By Recorder Report
Rupee’s Performance Against US Dollar Since 04 March 2025
The Pakistani rupee improved against the US dollar, appreciating 0.03% during the interbank market on Thursday.
At close, the currency settled at 283.86, a gain of Re0.09.
On Wednesday, the currency settled at 283.95.
Internationally, the US dollar wobbled on Thursday after a trade agreement between the United States and Vietnam fuelled optimism over potential future deals ahead of a July 9 tariff deadline, while investors looked to payrolls to assess the Federal Reserve鈥檚 next steps.
Sterling firmed slightly after a sharp drop the previous session as British Prime Minister Keir Starmer鈥檚 office rushed to give Finance Minister Rachel Reeves his full backing, hoping to allay investor worries about Britain鈥檚 finances.
The pound dropped nearly 1% and British government bonds tumbled on Wednesday, as a tearful appearance by Reeves in parliament a day after the government backed down on its welfare reforms reignited concern over Britain鈥檚 finances.
The pound last fetched $1.3647, slightly higher in Asian hours, while the euro was steady at $1.1806, hovering close to the September 2021 top it touched earlier this week. The yen firmed a bit to 143.56 per dollar.
The dollar index, which measures the US currency against six other units, was at 96.701, still near the 3-1/2-year lows it has been rooted to this week. The index is on course for a 0.5% drop in the week.
Investor attention will be on the US Labor Department鈥檚 comprehensive employment report for June, due to be released on Thursday ahead of the July 4 holiday after data showed private payrolls fell for the first time in more than two years in June.
Oil prices, a key indicator of currency parity, eased on Thursday, reversing gains from the previous session, on concerns over weak U.S. demand after government data showed a surprise build in inventories in the world鈥檚 biggest crude consumer.
Brent crude futures fell 24 cents, or 0.35%, to $68.87 a barrel by 0044 GMT after gaining 3% on Wednesday. US West Texas Intermediate crude fell 24 cents, or 0.36%, to $67.21 a barrel after climbing 3.1% previously.