Rupee’s Performance Against US Dollar Since 04 March 2025
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The Pakistani rupee registered marginal gain against the US dollar in the inter-bank market on Thursday.
At close, the currency settled at 280.76, a gain of Re0.01 against the greenback.
On Wednesday, the local unit closed at 280.77.
Internationally, the yen wallowed near a record low versus the euro and a nine-month trough to the dollar on Thursday after Japan’s new premier said she wants the central bank to go slow on interest rate hikes.
The Aussie dollar climbed to a two-week high after official data showed a larger decline in the unemployment rate than economists had forecast, lessening the impetus for rate cuts.
Currency markets could face some volatility over the coming days, with the prolonged US government shutdown likely to end soon, triggering the release of a backlog of economic data.
However, the White House said on Wednesday that jobs and consumer price figures for October may never be released.
The yen was little changed at 179.32 per euro in the Asian morning, after dipping to an unprecedented 179.47 overnight. It was steady at 154.82 per dollar, following its decline to the lowest since early February at 155.05 on Wednesday, crossing the psychological 155 mark.
The euro eased 0.1% to $1.1582.
Traders see a 24% chance of a quarter-point increase to the key rate in December, rising to 46% odds for a hike by January.
Oil prices, a key indicator of currency parity, edged up on Thursday, taking a break after major losses in the previous session, as investors weighed concerns about global oversupply with looming sanctions against Russia’s Lukoil.
Brent crude futures rose 64 cents, or 1%, to $63.35 a barrel by 1357 GMT, after dropping 3.8% a day earlier. US West Texas Intermediate crude increased 63 cents, or 1.1%, to $59.12 a barrel, after a decline of 4.2% on Wednesday.
Inter-bank market rates for dollar on Thursday
BID Rs 280.76
OFFER Rs 280.96
Open-market movement
In the open market, the PKR lost 4 paise for buying and remained unchanged for selling against USD, closing at 281.38 and 281.80, respectively.
Against Euro, the PKR lost 85 paise for buying and 87 paise for selling, closing at 325.78 and 328.60, respectively.
Against UAE Dirham, the PKR remained unchanged for buying and lost 2 paise for selling, closing at 76.65 and 77.43, respectively.
Against Saudi Riyal, the PKR remained unchanged for both buying and selling, closing at 74.94 and 75.59, respectively.
Open-market rates for dollar on Thursday
BID Rs 281.38
OFFER Rs 281.80
American Dollar Exchange Rate