Rupee registers marginal gain against USD

Business Feb, 5 2025
Rupee registers marginal gain against USD
  • 73
  • 0

KARACHI: The Pakistani rupee showed a slight improvement against the US dollar on Tuesday, gaining 0.03% in the inter-bank market.

The currency closed at 278.96, appreciating by Re0.08 from the previous day's closing of 279.04, according to the State Bank of Pakistan (SBP). In the international markets, currencies like the Canadian dollar, Mexican peso, and euro remained steady against the US dollar after a volatile Monday.  These currencies rebounded from multi-year lows following US President Donald Trump's announcement to suspend tariffs on Canada and Mexico for a month. 

The Chinese yuan also firmed up in offshore trading after recovering from a record low, bolstered by optimism about potential trade agreements between the US and China. Oil prices, which influence currency parity, retreated on Tuesday after Trump's tariff pause and expectations of increased OPEC+ supplies. Brent crude futures fell to $75.46, and US West Texas Intermediate (WTI) crude dropped to $72.27. In the open market, the rupee gained 5 paise for buying but lost 3 paise for selling against the dollar, closing at 278.70 and 280.91, respectively.  Against the euro, the rupee lost ground, closing at 287.38 for buying and 289.98 for selling.

NC Big Stories

Death of Pakistanis in boat tragedies

In recent yeas, varoius groups of human smugglers emerged who started sending innocent people abroad through illegal and inhumane methods, this process is still going on.  In recent years, hundreds of Pakistanis who traveled through illegal rou...

Azerbaijan-Pakistan chamber of commerce inaugurated to boost bilateral trade

ISLAMABAD: Pakistan achieved a significant milestone in fostering bilateral trade relations with Azerbaijan as the Azerbaijan-Pakistan Chamber of Commerce and Industry was officially inaugurated in Islamabad. The ceremony was graced by Federal Minist...

IMF applauds Pakistan's economic efforts ahead of review: Aurangzeb

ISLAMABAD: Finance Minister Muhammad Aurangzeb shared on Wednesday that the government has received "very positive" feedback from the International Monetary Fund (IMF) regarding Pakistan's macroeconomic stability and its reform efforts. Speaking at...

PM Shehbaz, IMF's Georgieva hold talks on ongoing program

DUBAI: In a significant development on the sidelines of the World Government Summit (WGS) 2025, Prime Minister Shehbaz Sharif engaged in a crucial meeting with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF). The talk...

More like this
Related

Azerbaijan-Pakistan chamber of commerce inaugurated to boost bilateral trade

ISLAMABAD: Pakistan achieved a significant milestone in fostering bilateral trade relations with Azerbaijan as the Azerbaijan-Pakistan Chamber of Commerce and Industry was officially inaugurated in Islamabad. The ceremony was graced by Federal Minist...

IMF applauds Pakistan's economic efforts ahead of review: Aurangzeb

ISLAMABAD: Finance Minister Muhammad Aurangzeb shared on Wednesday that the government has received "very positive" feedback from the International Monetary Fund (IMF) regarding Pakistan's macroeconomic stability and its reform efforts. Speaking at...

PM Shehbaz, IMF's Georgieva hold talks on ongoing program

DUBAI: In a significant development on the sidelines of the World Government Summit (WGS) 2025, Prime Minister Shehbaz Sharif engaged in a crucial meeting with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF). The talk...

Rana Tanveer chairs PSMA meeting on sugar distribution, pricing

ISLAMABAD: Federal Minister for Industries and Production, Rana Tanveer Hussain, chaired a significant meeting of the Pakistan Sugar Manufacturers Association (PSMA) on Tuesday, focusing on crucial decisions regarding sugar pricing and distribution a...
Need Help? Chat with us