PKR remains stable against USD on first trading day of 2025

KARACHI: The Pakistani rupee (PKR) remained stable against the US dollar (USD) in the early hours of Thursday’s interbank market session. As of 10:00 AM, the PKR was trading at Rs278.55 to the dollar on the first trading day of 2025.

The currency market had been closed on Wednesday due to a bank holiday. In the previous session on Tuesday, the rupee weakened by 7.28 paisa or 0.03 per cent against the dollar, closing at Rs278.55 compared to Rs278.48 on Monday.

Here’s how the PKR performed against other major currencies during the last trading session (December 31, 2024):

Against the Japanese Yen, rupee dropped by 1.94 paisa or 1.10 per cent, closing at Rs1.7834 compared to Rs1.7640 on Monday.

The PKR strengthened by 2.01 paisa or 0.03 per cent against the Saudi Riyal, settling at Rs74.14.

It weakened by 1.03 paisa or 0.03 per cent against the Chinese Yuan, closing at Rs38.16, down from Rs38.15 on Monday.

Against the British Pound, the rupee appreciated by 25.67 paisa or 0.07 per cent, ending the session at Rs349.71 versus previous close of Rs349.96.

The rupee declined by 1.99 paisa or 0.03 per cent against the UAE Dirham, closing at Rs75.84.

PKR gained 13.30 paisa or 0.05 per cent against the Euro, ending at Rs290.08 compared to previous close of Rs290.21.

It also rose by 20.98 paisa or 0.07 per cent against the Swiss Franc, closing at Rs308.44.

During the ongoing fiscal year, the rupee has weakened against the dollar by 20.88 paisa or 0.07 per cent.

On the international front, the US dollar started 2025 strongly, gaining against most currencies. The Japanese Yen, in particular, is sliding toward a five-month low as markets anticipate US interest rates staying higher for a longer period.

Investors are also focused on incoming Trump administration’s policies, which are expected to drive growth while adding inflationary pressures, supporting US Treasury yields and increasing demand for the dollar.

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