Rupee’s Performance Against US Dollar Since 15 Jan 2025
The Pakistani rupee recorded marginal decline against the US dollar, depreciating 0.05% in the inter-bank market on Friday.
At close, the rupee settled at 279.97, a loss of Re0.15 against the greenback.
On Thursday, the rupee had closed at 279.82.
Internationally, the US dollar wallowed near a four-month low on Friday as ever-shifting tariff policies fanned uncertainty and increased concern about growth prospects for the world’s largest economy, leaving investors grasping for jobs data due later in the day.
Another reprieve of levies aimed at Mexico and Canada announced by US President Donald Trump on Thursday offered little relief, keeping the safe-haven yen not far off its strongest against the greenback since early October.
Against the Swiss franc, the US dollar dropped to a three-month low of 0.8820 franc in early trade.
The greenback also lost some ground against the Canadian dollar and Mexican peso.
The reprieve expires on April 2 when Trump says he will impose reciprocal tariffs on all US trading partners.
The US dollar index, which measures the greenback against six major rivals, fell 0.05% to 104.15.
Oil prices, a key indicator of currency parity, were little changed on Friday but were set for their biggest weekly decline since October as the uncertainty around US tariff policy is creating concerns about demand growth at the same time major producers are set to increase output.
Brent futures rose 17 cents, or 0.24%, to $69.63 a barrel by 0315 GMT.
US West Texas Intermediate futures rose 12 cents, or 0.18%, to $66.48 a barrel. However, for the week Brent is down 4.9%, set for its biggest weekly decline since the week of October 14.
WTI is set to drop 4.8%, also its biggest weekly fall since that week.
Markets, including oil, have been whipsawed by fluctuating trade policy in the US, the world’s biggest oil consumer.
Inter-bank market rates for dollar on Friday
BID Rs279.97
OFFER Rs280.17
Open-market movement
In the open market, the PKR lost 20.00 paisa for buying and 17.00 paisa for selling against USD, closing at 279.25 and 281.47, respectively.
Against Euro, the PKR lost 99.00 paisa for buying and 1.02 rupee for selling, closing at 301.60 and 304.66, respectively.
Against UAE Dirham, the PKR lost 5.00 paisa for buying and 10.00 paisa for selling, closing at 76.11 and 76.70, respectively.
Against Saudi Riyal, the PKR gained 3.00 paisa for buying and remained unchanged for selling, closing at 74.40 and 75.00, respectively.
Open-market rates for dollar on Friday
BID Rs279.25
OFFER Rs281.47
