Rupee posts marginal gain against US dollar

Rupee’s Performance Against US Dollar Since 04 March 2025

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The Pakistani rupee posted marginal gain against the US dollar, appreciaitng 0.01% in the inter-bank market on Monday.

At close, the local currency settled at 281.07, up by Re0.03 against the US dollar, according to the State Bank of Pakistan (SBP).

During the previous week, Pakistan rupee gained Re0.07 or 0.02% against the US dollar in the inter-bank market. The local unit closed at 281.10, against 281.17, it had closed the week earlier against the greenback.

Pakistan’s current account (C/A) posted a significant surplus of $110 million in September, a sharp contrast against $52 million deficit recorded in the same month last fiscal, SBP data showed.

The surplus came on the back of a significant rise in remittance inflows during the month, which clocked in at $3.18 billion, reflecting an increase of 11% on a yearly basis.

Internationally, the Japanese yen weakened against the US dollar on Monday as Sanae Takaichi, an advocate of fiscal and monetary stimulus, appeared all but certain to become Japan’s next prime minister after reportedly securing crucial political backing for the top job.

The safe-haven currency was also hit by an improvement in risk appetite after trade tensions between Beijing and Washington calmed somewhat, and worries about US regional banks also eased.

The risk-sensitive Aussie dollar advanced.

The US dollar added 0.3% to 150.96 yen as of 0210 GMT, following a drop of as much as 1.1% on Friday, mainly with traders jittery following a clutch of bad loans at US banks and with tariff tensions simmering over Chinese rare earths, essential in chip- and other high-tech supply chains.

However, credit worries took a step back by the end of Wall Street trading, with the main indexes all finishing higher.

Oil prices, a key indicator of currency parity, fell by nearly 2% on Monday, pressured by worries over a global glut as US-China trade tensions added to concerns about an economic slowdown and weaker energy demand.

Brent crude futures were down $1.06, or 1.7%, at $60.23 a barrel as of 1312 GMT, while US West Texas Intermediate futures fell $1.03, or 1.8%, to $56.51.

Inter-bank market rates for dollar on Monday

BID Rs 281.07

OFFER Rs 281.27

Open-market movement

In the open market, the PKR gained 3 paise for buying and 5 paise for selling against USD, closing at 281.57 and 282.10, respectively.

Against Euro, the PKR gained 1.12 rupee for buying and 99 paise for selling, closing at 328.16 and 331.50, respectively.

Against UAE Dirham, the PKR lost 1 paisa for buying and gained 1 paisa for selling, closing at 76.80 and 77.57, respectively.

Against Saudi Riyal, the PKR gained 1 paisa for buying and lost 1 paisa for selling, closing at 75.06 and 75.65, respectively.

Open-market rates for dollar on Monday

BID Rs 281.57

OFFER Rs 282.10