Pakistani Rupee Experiences Minor Dip Against US Dollar

The Pakistani rupee underwent a marginal depreciation against the US dollar in early trading hours on Thursday, showing a decrease of 0.02%.

At approximately 10:00 AM, the rupee’s value stood at 282.53, reflecting a loss of Re0.06 against the US currency.

The rupee had closed at Rs282.47 against the US dollar the previous day.

Global Market Influences

The US dollar weakened on international markets on Thursday, spurred by indications that US President Donald Trump might moderate his approach to tariff discussions and growing anticipation of interest rate reductions by the Federal Reserve.

President Trump mentioned on Wednesday his willingness to extend the deadline for trade negotiations before implementing higher US tariffs.

Earlier, US Treasury Secretary Scott Bessent hinted at potential extensions to the July trade deal deadline for countries demonstrating good faith in negotiations.

These comments contributed to dollar weakness, pushing the euro to a seven-week peak, last trading at $1.1525.

The dollar declined by 0.43% against the Japanese yen and 0.34% against the Swiss franc, reaching levels of 143.98 and 0.81725, respectively.

The dollar index, measuring the greenback against a basket of currencies, reached its lowest point since April 22, at 98.327.

Oil Prices Affected by Geopolitical Factors

Oil prices, a crucial gauge of currency values, decreased on Thursday, reversing earlier gains during the Asian trading session. This shift occurred as market observers weighed the US decision to reposition personnel in the Middle East ahead of discussions with Iran regarding its nuclear activities.

Brent crude futures experienced a decline of 30 cents, or 0.4%, settling at $69.47 per barrel at 0433 GMT. Similarly, US West Texas Intermediate crude saw a decrease of 23 cents, or 0.3%, reaching $67.92 per barrel.

The prior day saw both Brent and WTI prices surge by more than 4%, reaching their highest levels since early April.

This information constitutes an intra-day market update.