Intraday trade: PKR gains 27 paisa against USD

KARACHI: The Pakistani rupee (PKR) made gains against the US dollar (USD) on Thursday, appreciating by 0.1 per cent during the initial trading hours.

In the morning session, the rupee stood at Rs278.45, marking an increase of 27 paisa against the greenback.

On Wednesday, the PKR had depreciated by 5.49 paisa, or 0.02 per cent, closing at Rs278.72 per USD, compared to the previous session’s rate of Rs278.67.

During the current financial year, the rupee has weakened by 38.10 paisa, or 0.14 per cent, against the US dollar. Since the start of 2025, it has depreciated by 17.22 paisa, or 0.06 per cent.

Here’s how the PKR performed against other major currencies in the previous trading session:

Euro to PKR: The PKR strengthened by Rs2.28, or 0.79 per cent, against the Euro, closing at Rs288.02, compared to Rs290.30.

Pound to PKR: Against the British Pound, the rupee appreciated by Rs2.30, or 0.66 per cent, settling at Rs347.51, up from Rs349.81.

Franc to PKR: The PKR gained Rs2.02, or 0.66 per cent, against the Swiss Franc, closing at Rs306.10.

Yen to PKR: Against the Japanese Yen, the rupee improved by 0.62 paisa, or 0.35 per cent, finishing at Rs1.7628 compared to Rs1.7690 the previous day.

Dirham to PKR: The PKR weakened by 1.50 paisa, or 0.02 per cent, against the UAE Dirham, closing at Rs75.88.

Yuan to PKR: Against the Chinese Yuan, the rupee appreciated by 1.58 paisa, or 0.04 per cent, closing at Rs38.02 from Rs38.03.

Riyal to PKR: The local currency depreciated by 2.46 paisa, or 0.03 per cent, against the Saudi Riyal, closing at Rs74.25.

Globally, the US dollar gained strength on Thursday, buoyed by rising Treasury yields, which pressured currencies like the yen, sterling, and euro, pushing them closer to multi-month lows.

The market’s focus in 2025 has been on President-elect Donald Trump’s policies as he prepares to re-enter the White House on January 20. Analysts expect these policies to fuel growth but may also increase inflationary pressures.

On Wednesday, CNN reported that Trump is considering declaring a national economic emergency, which would allow him to impose tariffs on both allies and adversaries.

Earlier, the Washington Post had reported on Monday that Trump was exploring more specific tariffs, which he later denied.

The US dollar index, which measures the currency against six other major units, stood at 109.03, just below the two-year high it reached last week. The index rose by 7 per cent last year as traders adjusted their expectations regarding US rate cuts.

Last month, the Federal Reserve surprised markets by projecting two rate cuts for 2025, down from four previously anticipated, citing concerns over inflation and Trump’s policy agenda.

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