Rupee’s Performance Against US Dollar Since 04 March 2025
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The Pakistani rupee posted marginal gain against the US dollar in the inter-bank market on Friday.
At close, the local currency settled at 281.10, up by Re0.01 against the US dollar.
On Thursday, the local unit closed at 281.11, according to the State Bank of Pakistan (SBP).
Finance Minister Muhammad Aurangzeb said recent floods, which inundated large swathes of agricultural land in the country, were likely to hit Pakistan’s economic growth.
In an interview with Bloomberg News in Washington, Aurangzeb shared that the government’s initial assessments had shown damage to the country’s rice and cotton sectors, while a more detailed damage assessment would take place in the coming months.
Globally, the US dollar remained on the back foot on Friday as global trade frictions and signs of weakness in the US economy supported the case for more rate cuts by the Federal Reserve.
The dollar index is set for its biggest weekly drop in almost three months as an extended shutdown of the US government blocked the publication of key economic data.
The yen held on to gains after Bank of Japan Governor Kazuo Ueda spoke about factors that could lead to a rate increase this month.
The dollar index, which measures the greenback against a basket of currencies, was little changed at 98.23 and remained on course for a 0.6% slide this week – the biggest five-day retreat since late July.
Against the Japanese yen, the US dollar weakened 0.2% to 150.12.
BOJ Governor Ueda said in Washington on Thursday that the central bank remains ready to increase its key policy rate if the likelihood of its growth and price forecasts materializing increases. BOJ Deputy Governor Shinichi Uchida is due to speak later on Friday.
The euro added 0.1% at $1.1701, while sterling also tacked on 0.1% to $1.3446.
Fed Governor Christopher Waller said he is on board with another interest rate cut at the U.S. central bank’s meeting later this month because of the mixed readings on the state of the job market.
Stephen Miran, the Fed’s newest governor and an economic advisor to US President Donald Trump, reiterated support for more aggressive rate cuts at upcoming meetings than the one favored by some of his colleagues.
Oil prices, a key indicator of currency parity, edged lower on Friday, heading for a weekly loss of nearly 3% after the IEA forecast a growing glut and US President Donald Trump and Russian President Vladimir Putin agreed to meet again to discuss Ukraine.
Brent crude futures were down 9 cents, or 0.15%, at $60.97 a barrel at 1311 GMT, while US West Texas Intermediate futures were 4 cents lower, down 0.07%, at $57.42.
This week’s decline was also partly due to the International Energy Agency’s outlook for a growing supply glut in 2026.
Inter-bank market rates for dollar on Friday
BID Rs 281.10
OFFER Rs 281.30
Open-market movement
In the open market, the PKR gained 1 paisa for buying and remained unchanged for selling against USD, closing at 281.60 and 282.15, respectively.
Against Euro, the PKR lost 1.30 rupee for buying and 1.42 rupee for selling, closing at 329.28 and 332.49, respectively.
Against UAE Dirham, the PKR gained 1 paisa for buying and remained unchanged for selling, closing at 76.79 and 77.58, respectively.
Against Saudi Riyal, the PKR lost 2 paise for buying and gained 3 paise for selling, closing at 75.07 and 75.64, respectively.
Open-market rates for dollar on Friday
BID Rs 281.60
OFFER Rs 282.15
American Dollar Exchange Rate