The Pakistani rupee experienced a slight improvement against the US dollar in the inter-bank market on Tuesday, April 15, 2025, as it gained 0.01% by the end of the trading day. The currency settled at Rs 280.57, marking a modest increase of Rs 0.03 from its previous closing at Rs 280.60 on Monday.
This marginal gain comes amidst a relatively calm day in global currency markets. The US dollar, which has been under pressure in recent days, remained steady on Tuesday but continues to hover near a three-year low against the euro and a six-month low against the Japanese yen. The dollar’s struggle to regain momentum stems from a series of back-and-forth changes in US tariffs, creating confusion among investors.
International market conditions had a noticeable impact on the value of the US dollar. Despite a slight recovery against the yen, where it gained 0.27%, trading at 143.53 yen, the greenback remained under pressure. The US dollar’s position was weakened after hitting a six-month low against the yen, falling to 142.05 last Friday. This uncertainty in the US dollar’s trajectory has led to shaky investor confidence, further exacerbated by ongoing concerns surrounding US tariffs on imports from China. While President Donald Trump recently exempted certain electronics, including smartphones, from these tariffs, it remains unclear whether this relief will be long-lasting or short-term.
In the midst of these international developments, the US dollar index, which measures the strength of the dollar against a basket of six major currencies, stood at 99.864, not far from the three-year low it reached last week. The index has seen a significant decline, down over 4% for the month, and is on track to experience its largest monthly drop since November 2022.
Another factor influencing currency markets is the movement of oil prices. On Tuesday, oil prices saw a slight uptick, with Brent crude futures rising by 12 cents, or 0.2%, to $65 per barrel, while US West Texas Intermediate crude was up by 13 cents, or 0.2%, to $61.66. This increase in oil prices is partly due to new tariff exemptions announced by President Trump and a rebound in China’s crude oil imports, as the market anticipates tighter supply from Iran.
On the local front, the inter-bank rates for the US dollar on Tuesday were recorded at Rs 280.56 for the bid and Rs 280.76 for the offer. This suggests a relatively stable market for the greenback within the inter-bank segment, with minimal fluctuations in its value.
Meanwhile, in the open market, the Pakistani rupee experienced a slight dip against the US dollar. The PKR lost one paisa for buying, settling at Rs 280.21, and three paise for selling, closing at Rs 282.09. However, the rupee gained ground against the euro, appreciating by 1.11 rupees for buying and 98 paise for selling, closing at Rs 316.80 and Rs 320.10, respectively. The rupee’s performance against the UAE Dirham and Saudi Riyal was mixed, with the PKR losing one paisa for buying the Dirham and gaining one paisa for selling it. The rupee also lost three paise for buying the Saudi Riyal, while its selling rate remained unchanged.
These daily fluctuations in the currency markets reflect the complex interplay of global economic factors, including US tariff policies, the US dollar’s fluctuating strength, and the volatility of commodity markets such as oil. As the global financial environment remains uncertain, the value of the Pakistani rupee is likely to continue facing challenges. However, Tuesday’s marginal improvement against the US dollar provides a small yet encouraging sign for investors and traders in the inter-bank market.