Rupee appreciates against US dollar

Rupee’s Performance Against US Dollar Since 04 March 2025

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The Pakistani rupee posted a marginal gain against the US dollar in the inter-bank market on Wednesday.

At close, the local currency settled at 279.66, a gain of Re0.01 against the greenback.

On Tuesday, the local currency closed at 279.67, according to the State Bank of Pakistan (SBP).

Meanwhile, the yen held on to solid gains on Wednesday as investors bet that Prime Minister Sanae Takaichi’s landslide election victory puts her in a strong position to pursue more fiscally responsible policies.

Elsewhere, the Aussie broke above $0.71 for the first time in three years.

The dollar wobbled ahead of the key US non-farm payrolls report due later on Wednesday, after a run of data overnight hinted at a softening in the world’s largest economy.

The yen was up nearly 0.4% against the dollar at 153.80, building on a 1% rise in the previous session that also saw it rally against other currencies.

The euro fetched 183.15 yen after a 1.2% drop on Tuesday, while sterling extended the previous day’s 1.3% fall against the Japanese currency and was down 0.28% at 210.00.

Trading was thinned in Asia due partly to a holiday in Japan.

Moreover, oil prices gained on Wednesday, buoyed by escalating risk as US–Iran talks remained tenuous, while signs of an easing surplus spurred by better demand support from India also added strength.

Brent crude oil futures were up 55 cents, or 0.80%, at $69.35 a barrel by 0356 GMT.

US West Texas Intermediate crude rose 57 cents, or 0.89%, to $64.53.