Rupee weakens against US dollar

Rupee’s Performance Against US Dollar Since 04 March 2025

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The Pakistani rupee weakened against the US dollar, depreciating 0.07% on Thursday.

At close, the local currency settled at 282.67, a loss of Re0.2 against the greenback.

On Wednesday, the rupee settled at Rs282.47 against the US dollar.

Internationally, the US dollar slid on Thursday on further signs that US President Donald Trump may adopt a softer stance in tariff negotiations and heightened expectations of Federal Reserve rate cuts.

Trump said on Wednesday he would be willing to extend a July 8 deadline for completing trade talks with countries before higher US tariffs are imposed.

US Treasury Secretary Scott Bessent suggested earlier that the Trump administration may offer extensions from a July trade deal deadline for countries negotiating in good faith.

The remarks renewed dollar weakness, lifting the euro to a seven-week high. It last bought $1.1525.

The greenback lost 0.43% against the yen and 0.34% against the Swiss franc to last trade at 143.98 and 0.81725, respectively.

Against a basket of currencies, the dollar fell to its weakest since April 22 at 98.327.

Oil prices, a key indicator of currency parity, eased on Thursday, reversing gains made earlier in the Asian trading session, as market participants assessed a US decision to move personnel from the Middle East ahead of talks with Iran over the latter’s nuclear-related activity.

Brent crude futures were down 73 cents, or 1.1%, to $69.04 a barrel at 0901 GMT, while US West Texas Intermediate crude was 66 cents, or 1%, lower at $67.49 a barrel.

A day earlier, both Brent and WTI surged more than 4% to their highest since early April.