Courtesy: Business Recorder, 15 April 2025
ECORDER REPORT
KARACHI: The Pakistani rupee saw slight decline against the US dollar, depreciating 0.05% in the inter-bank market on Monday.
At close, the currency settled at 280.60, a loss of Re0.13 against the US dollar.
During the previous week, the Pakistani rupee remained stable against the US dollar in the inter-bank market.
The rupee lost Re0.31 in the first three sessions of the week, but gained momentum to appreciate by the same in the last two sessions.
Resultantly, the local unit closed at Rs280.47, unchanged from the rate against the greenback it had closed at during the week earlier, according to the State Bank of Pakistan (SBP).
Internationally, the US dollar drifted lower on Monday as an early bump off a three-year low fizzled, with markets spooked by the stream of tariff-related pronouncements from US President Donald Trump that last week shook investor confidence in the world’s reserve currency.
Investors braced for another volatile week as Trump’s imposition and then abrupt postponement of tariffs on goods imported to the US continued to sow confusion.
The dollar reversed early gains as the Asian trading session got under way, falling against the Swiss franc towards a 10-year trough hit on Friday.
The dollar last traded 0.05% lower against the Swiss franc at 0.8158.
Against the yen, the dollar fell 0.62% to 142.62.
Oil prices, a key indicator of currency parity, edged up on Monday after Chinese data showed a sharp rebound in crude imports in March, although concerns that the escalating trade war between the United States and China would weaken global economic growth and dent fuel demand weighed.
Brent crude futures gained 6 cents, or 0.09%, to $64.82 a barrel at 0632 GMT.
US West Texas Intermediate crude futures were trading at $61.59 a barrel, up 9 cents, or 0.15%.
Open-market movement
In the open market, the PKR lost 5 paise for buying and gained 4 paise for selling against USD, closing at 280.20 and 282.06, respectively.
Against Euro, the PKR lost 1.85 rupee for buying and 1.69 rupee for selling, closing at 317.91 and 321.08, respectively.
Against UAE Dirham, the PKR lost 9 paise for buying and gained 1 paisa for selling, closing at 76.20 and 76.97, respectively.
Against Saudi Riyal, the PKR gained 3 paise for buying and 2 paise for selling, closing at 74.43 and 75.16, respectively.
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Open Bid Rs 280.20
Open Offer Rs 282.06
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday
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Open Bid Rs 280.60
Open Offer Rs 280.80
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RUPEE IN LAHORE: The Pak sustained previous position against the US dollar while losing against the British pound.
According to local market sources, the Pak rupee closed at Rs 280.00 and Rs 282.00 against the US dollar compared to the previous closing of Rs 280.00 and Rs 282.00, respectively.
However, regarding the British pound, the Pak rupee witnessed a closing at Rs 365.50 and Rs 369.00 against the previous closing of Rs 364.50 and Rs 368.00, respectively.
Copyright Business Recorder, 2025
