Rupee’s Performance Against US Dollar Since 04 March 2025
Pakistani rupee depreciated further to hit a 19-month low in the inter-bank market against the US dollar on Monday.
At close, the currency settled at 284.22, a loss of Re0.25.
During the previous week, the Pakistani rupee weakened against the US dollar, closing at 283.97 to register a loss of 0.09% on a weekly basis.
The rupee had previously closed at 284 level against the US dollar in December, 2023.
Analysts see the rupee depreciating to above 290 during the FY2025-26 against the US dollar amid rising import demand in the country.
Internationally, the US dollar hovered near its lowest since 2021 against the euro and the weakest since 2015 versus the Swiss franc on Monday, with traders alert for any trade-related headlines in the countdown to President Donald Trump’s tariff deadline.
Most US trade partners are set to see much steeper duties at the end of Trump’s 90-day moratorium on Trump’s “Liberation Day” reciprocal tariffs on Wednesday. So far, only Britain, China and Vietnam have agreed any sort of trade deal with the White House.
Trump said on Friday that he would on Monday name some dozen countries he had signed letters to with their new, higher levies, and pointed to August 1 as the date those rates would go into effect for many trading partners. US Treasury Secretary Scott Bessent on Sunday predicted several big announcements in coming days.
The US dollar index, which measures the currency against those three rivals and three more major counterparts, was flat at 96.967, hovering above Tuesday’s nearly 3-1/2-year trough of 96.373.
Oil prices, a key indicator of currency parity, shrugged off the impact of OPEC+ hiking output more than expected for August as well as concern about the potential impact of U.S. tariffs, with prices mostly reversing early losses as a tight physical market lent support.
The Organization of the Petroleum Exporting Countries and their allies, a group known as OPEC+, agreed on Saturday to raise production by 548,000 barrels per day in August, more than the 411,000 bpd hikes they made for the earlier three months.
Brent crude futures fell as low as $67.22 a barrel but by 1145 GMT were up 36 cents, or 0.5%, to $68.66. U.S. West Texas Intermediate crude was at $66.99, down 1 cent, and up from an earlier low of $65.40.
Inter-bank market rates for dollar on Monday
BID Rs 284.22
OFFER Rs 284.41
Open-market movement
In the open market, the PKR lost 9 paise for buying and 24 paise for selling against USD, closing at 285.50 and 286.64, respectively.
Against Euro, the PKR gained 40 paise for buying and 56 paise for selling, closing at 335.29 and 337.64, respectively.
Against UAE Dirham, the PKR remained unchanged for both buying and selling, closing at 77.68 and 78.10, respectively.
Against Saudi Riyal, the PKR remained unchanged for both buying and selling, closing at 75.98 and 76.40, respectively.
Open-market rates for dollar on Monday
BID Rs 285.50
OFFER Rs 286.64
American Dollar Exchange Rate