Rupee’s Performance Against US Dollar Since 04 March 2025
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The Pakistani rupee maintained its positive momentum against the US dollar, appreciating marginally in the inter-bank market on Monday.
At close, the rupee settled at 281.45, a gain of Re0.01 against the greenback. This was the rupee’s 32nd successive gain against the greenback.
During the previous week, the rupee extended its upward momentum, recording a marginal gain against the dollar, appreciating by Re0.09 or 0.03% in the inter-bank market.
The local unit closed at 281.46, against 281.55 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
Internationally, the US dollar was steady on Monday as traders looked ahead to a slew of speeches from Federal Reserve officials throughout the week that could provide further clues on the US rate outlook, after the central bank resumed its easing cycle last week.
Currency moves in the early Asia session were more subdued after a volatile ride last week following a raft of rate decisions, including those of the Fed, the Bank of England (BoE) and the Bank of Japan (BOJ).
The yen was last 0.16% lower at 148.22 per dollar, paring its gains from Friday after a hawkish shift in the BOJ’s rhetoric raised the prospect of a near-term rate hike.
Sterling, meanwhile, fell to a two-week low of $1.3458, pressured by domestic headwinds after a surge in UK public borrowing and a BoE rate decision that laid bare the challenge for policymakers in balancing growth and inflation.
Oil prices, a key indicator of currency parity, dipped on Monday as concerns over Russia and the Middle East were countered by oversupply jitters.
Iraq, OPEC’s second-largest producer, has increased oil exports under an OPEC+ agreement, state oil marketer SOMO said. It also expects September’s exports to range from 3.4 million to 3.45 million barrels per day.
Brent crude oil futures dipped 55 cents, or 0.8%, to $66.13 a barrel by 1340 GMT. Brent has traded between $65.50 and $69 a barrel since early August.
Inter-bank market rates for dollar on Monday
BID Rs 281.45
OFFER Rs 281.65
Open-market movement
In the open market, the PKR remained unchanged for both buying and selling against USD, closing at 281.98 and 282.50, respectively.
Against Euro, the PKR gained 53 paise for buying and 70 paise for selling, closing at 331.23 and 334.35, respectively.
Against UAE Dirham, the PKR gained 2 paise for buying and 8 paise for selling, closing at 77.08 and 77.80, respectively.
Against Saudi Riyal, the PKR lost 1 paisa for buying and gained 2 paise for selling, closing at 75.15 and 75.80, respectively.
Open-market rates for dollar on Monday
BID Rs 281.98
OFFER Rs 282.50
American Dollar Exchange Rate