RECORDER REPORT
KARACHI: Pakistani rupee declined further against the US dollar, depreciating 0.03% in the inter-bank market on Thursday.
At close, the currency settled at 284.56, a loss of Re0.09.
On Wednesday, the currency settled at 284.47.
Internationally, the US dollar slipped further from a two-week high versus major peers on Thursday, as President Donald Trump’s latest tariff salvos failed to shake markets, except in Brazil where a threatened 50% levy sent the real sliding as much as 2.8% overnight.
The US dollar felt additional weight from a sharp decline in US Treasury yields following a strong auction of 10-year notes on Wednesday, tempering worries about the “Sell America” narrative that had seen Treasuries, the dollar and Wall Street stocks sold off in tandem earlier this year.
Overall, investors were hungry for riskier assets with the most damaging tariff scenarios looking increasingly unlikely, helping Nvidia become the first stock ever with a $4 trillion valuation, and lifting cryptocurrency bitcoin to an all-time peak just shy of $112,000.
The US dollar index, which measures the currency against six major peers, eased 0.1% to 97.286, extending a 0.2% decline from Wednesday, the same day that it pushed to the highest since June 25 at 97.837 before losing momentum.
Oil prices, a key indicator of currency parity, edged lower on Thursday as investors weighed the potential impact of U.S. President Donald Trump’s tariffs on global economic growth.
Brent crude futures were down 17 cents, or 0.24%, at $70.02 a barrel by 1100 GMT. U.S. West Texas Intermediate crude fell 24 cents, or 0.35%, to $68.14 a barrel.
On Wednesday, Trump threatened Brazil, Latin America’s largest economy, with a punitive 50% tariff on exports to the U.S., after a public spat with his Brazilian counterpart Luiz Inacio Lula da Silva.
Open-market movement
In the open market, the PKR lost 30 paise for buying and 50 paise for selling against USD, closing at 286.30 and 287.50, respectively.
Against Euro, the PKR lost 1.25 rupee for buying and 1.44 rupee for selling, closing at 336.25 and 338.95, respectively.
Against UAE Dirham, the PKR lost 26 paise for buying and 52 paise for selling, closing at 78.12 and 78.77, respectively.
Against Saudi Riyal, the PKR lost 21 paise for buying and 45 paise for selling, closing at 76.42 and 77.00, respectively.
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Open Bid Rs 286.30
Open Offer Rs 287.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday
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Open Bid Rs 284.56
Open Offer Rs 284.76
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RUPEE IN LAHORE: The Pak rupee remained under pressure both against the US dollar and the British pound for the second consecutive day.
According to local market sources, the Pak rupee closed at Rs 287.00 and Rs 287.50 against the US dollar compared to the previous closing of Rs 286.75 and Rs 287.00, respectively.
However, regarding the British pound, the Pak rupee witnessed a closing at Rs 391.50 and Rs 395.50 against the previous closing of Rs 390.50 and Rs 392.50 respectively.
Copyright Business Recorder, 2025
