Pakistani Rupee Gains Ground Against US Dollar

The Pakistani rupee showed a slight improvement against the US dollar, rising by 0.02% in early trading in the inter-bank market on Thursday.

At approximately 10 a.m., the rupee’s value was around 284.40, reflecting an increase of Re0.07.

The currency had closed at 284.47 on the previous day, Wednesday.

Global Market Overview

The US dollar experienced a further decline from a two-week high against major currencies on the international market on Thursday. This occurred even after President Donald Trump’s recent tariff actions, which primarily affected Brazil, where a potential 50% tax caused the real to drop significantly overnight, by as much as 2.8%.

The US dollar was also affected by a notable decrease in US Treasury yields, which followed a successful auction of 10-year notes on Wednesday. This eased concerns about the narrative of “Sell America,” which had previously led to simultaneous sell-offs of Treasuries, the dollar, and Wall Street stocks.

Generally, investors displayed a greater appetite for higher-risk assets, as the most damaging tariff scenarios appeared less likely. This environment helped Nvidia become the first company to reach a $4 trillion valuation and boosted the cryptocurrency Bitcoin to almost $112,000, reaching a new all-time high.

The US dollar index, which compares the dollar to six major currencies, decreased by 0.1% to 97.286, extending a 0.2% decline from Wednesday. Previously, it had reached its highest point since June 25 at 97.837 before losing momentum.

Oil Prices Decline

Oil prices saw a decrease on Thursday as market participants considered US President Donald Trump’s newest tariff announcements as a potential threat to global economic growth and demand for the commodity.

Brent crude futures were down 22 cents, or 0.31%, at $69.97 a barrel as of 0052 GMT. US West Texas Intermediate crude fell 27 cents, or 0.39%, to $68.11 a barrel.

This information is an update from the current trading day.