Rupee’s Performance Against US Dollar Since 04 March 2025
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The Pakistani rupee recorded marginal gain against the US dollar in the inter-bank market on Monday.
At close, the local currency settled at 280.31, a gain of Re0.01 against the greenback.
During the previous week, the rupee gained further as it appreciated Re0.10 or 0.04% against the US dollar. The local unit closed at 282.32, against 282.42 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
Internationally, the US dollar was nursing losses on Monday while the euro and sterling held steady ahead of their respective central bank decisions this week, with focus squarely on the rate outlooks across major economies as the new year approaches.
Currencies were largely rangebound in early Asia trade, as investors braced for a busy week which will also see the release of US inflation data and the closely watched nonfarm payrolls report.
The yen was little changed after a key central bank survey showed on Monday that big Japanese manufacturers’ business sentiment hit a four-year high.
The Japanese currency was 0.1% weaker at 155.94 per dollar.
Sterling eased 0.17% to $1.3359 in early Asia trade on Monday, while the euro was down 0.09% at $1.1730.
The Australian dollar eased 0.11% to $0.6647, while the New Zealand dollar was up 0.08% to $0.5807.
A divided Federal Reserve cut interest rates by 25 basis points last week as it sought to shore up a weakening labour market. But Chair Jerome Powell signalled borrowing costs are unlikely to drop further in the near term as it awaits more economic clarity.
Against a basket of currencies, the dollar was struggling to break away from a near two-month low hit last week and stood at 98.43.
Oil prices, a key indicator of currency parity, climbed on Monday as supply disruptions linked to escalating US-Venezuela tensions outweighed oversupply worries and the impact of a potential Russia-Ukraine peace deal.
Brent crude futures were up 33 cents, or 0.54%, at $61.45 a barrel, as of 0429 GMT, and US West Texas Intermediate crude was at $57.75 a barrel, up 31 cents, or 0.54%.
Both contracts slid more than 4% in the prior week, weighed down by expectations of a surplus in 2026.
Inter-bank market rates for dollar on Monday
BID Rs 280.31
OFFER Rs 280.51
Open-market movement
In the open market, the PKR lost 4 paise for buying and gained 1 paisa for selling against USD, closing at 280.80 and 281.35, respectively.
Against Euro, the PKR lost 35 paise for buying and 40 paise for selling, closing at 328.80 and 331.69, respectively.
Against UAE Dirham, the PKR lost 2 paisa for buying and 4 paise for selling, closing at 76.56 and 77.33, respectively.
Against Saudi Riyal, the PKR gained 1 paisa for buying and lost 1 paisa for selling, closing at 74.78 and 75.39, respectively.
Open-market rates for dollar on Monday
BID Rs 280.80
OFFER Rs 281.35
American Dollar Exchange Rate