The Pakistani rupee remained largely stable against the US dollar in the inter-bank market on Thursday.
At close, the currency settled at 284.97, a loss of Re0.01.
On Wednesday, the currency settled at 284.96.
Internationally, the US dollar was on a fragile footing on Thursday having lost ground overnight as concerns US President Donald Trump was preparing to fire the Federal Reserve chair shook confidence in US markets.
Trump denied reports he was planning to dismiss Fed Chair Jerome Powell, but he kept the door open to the possibility and renewed his criticism of the central bank chief for not lowering interest rates.
Investors worry that removing Powell before his term ends in May 2026 would undermine credibility in the US financial system and the dollar as a safe-haven currency.
Trump has railed against Powell for months for not easing rates, which he says should be at 1% or lower.
The US dollar index, which measures the greenback against major peers, was little changed at 98.384 after a 0.3% slide on Wednesday.
The US currency ticked up 0.2% to 148.14 yen, after a 0.6% decline overnight.
The euro stood at $1.1632, down 0.01%. Sterling edged 0.1% lower to $1.3409. Investors remain focused on tariffs ahead of an August 1 deadline when many trading partners face higher trade levies.
Oil prices, a key indicator of currency parity, rose on Thursday, even as global trade tensions appeared to cool, with analysts pointing to low inventories and renewed Middle East risks as factors supporting the market.
Brent crude futures were up 31 cents, or around 0.5%, to $68.83 a barrel at 1203 GMT. US West Texas Intermediate crude futures were up 61 cents, or 0.9%, at $66.99.
US President Donald Trump has said letters notifying smaller countries of their US tariff rates would go out soon, and has also alluded to prospects of a deal with Beijing on illicit drugs and a possible agreement with the European Union.
Inter-bank market rates for dollar on Thursday
BID Rs 284.97
OFFER Rs 285.16
Open-market movement
In the open market, the PKR lost 10 paise for buying and 11 paise for selling against USD, closing at 287.36 and 288.60, respectively.
Against Euro, the PKR gained 23 paise for buying and 5 paise for selling, closing at 334.45 and 337.77, respectively.
Against UAE Dirham, the PKR lost 6 paise for buying and 2 paise for selling, closing at 78.50 and 79.16, respectively.
Against Saudi Riyal, the PKR lost 10 paise for buying and 9 paise for selling, closing at 76.81 and 77.39, respectively.
Open-market rates for dollar on Thursday
BID Rs 287.36
OFFER Rs 288.60
The Pakistani rupee remained largely stable against the US dollar in the inter-bank market on Thursday.
At close, the currency settled at 284.97, a loss of Re0.01.
On Wednesday, the currency settled at 284.96.
Internationally, the US dollar was on a fragile footing on Thursday having lost ground overnight as concerns US President Donald Trump was preparing to fire the Federal Reserve chair shook confidence in US markets.
Trump denied reports he was planning to dismiss Fed Chair Jerome Powell, but he kept the door open to the possibility and renewed his criticism of the central bank chief for not lowering interest rates.
Investors worry that removing Powell before his term ends in May 2026 would undermine credibility in the US financial system and the dollar as a safe-haven currency.
Trump has railed against Powell for months for not easing rates, which he says should be at 1% or lower.
The US dollar index, which measures the greenback against major peers, was little changed at 98.384 after a 0.3% slide on Wednesday.
The US currency ticked up 0.2% to 148.14 yen, after a 0.6% decline overnight.
The euro stood at $1.1632, down 0.01%. Sterling edged 0.1% lower to $1.3409. Investors remain focused on tariffs ahead of an August 1 deadline when many trading partners face higher trade levies.
Oil prices, a key indicator of currency parity, rose on Thursday, even as global trade tensions appeared to cool, with analysts pointing to low inventories and renewed Middle East risks as factors supporting the market.
Brent crude futures were up 31 cents, or around 0.5%, to $68.83 a barrel at 1203 GMT. US West Texas Intermediate crude futures were up 61 cents, or 0.9%, at $66.99.
US President Donald Trump has said letters notifying smaller countries of their US tariff rates would go out soon, and has also alluded to prospects of a deal with Beijing on illicit drugs and a possible agreement with the European Union.
Inter-bank market rates for dollar on Thursday
BID Rs 284.97
OFFER Rs 285.16
Open-market movement
In the open market, the PKR lost 10 paise for buying and 11 paise for selling against USD, closing at 287.36 and 288.60, respectively.
Against Euro, the PKR gained 23 paise for buying and 5 paise for selling, closing at 334.45 and 337.77, respectively.
Against UAE Dirham, the PKR lost 6 paise for buying and 2 paise for selling, closing at 78.50 and 79.16, respectively.
Against Saudi Riyal, the PKR lost 10 paise for buying and 9 paise for selling, closing at 76.81 and 77.39, respectively.
Open-market rates for dollar on Thursday
BID Rs 287.36
OFFER Rs 288.60
American Dollar Exchange Rate