The Pakistani rupee made a modest gain against the US dollar in early inter-bank trading on Thursday, appreciating by 0.1% as global currency markets reacted to a mix of trade developments and economic signals.
At around 10 am, the rupee was trading at 281.43, reflecting an increase of Re0.29 from Wednesday’s closing rate of 281.72. This marks a continuation of the local currency’s relatively stable performance in recent weeks.
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Internationally, the US dollar showed signs of weakness following a week dominated by geopolitical and trade-related updates. A temporary pause in tariffs between the United States and China helped ease market tensions, while speculation around Washington’s stance on a weaker dollar influenced sentiment across Asian markets.
The South Korean won saw notable gains, rising 0.8% to 1,396.22 per dollar after officials from Seoul and Washington reportedly discussed exchange rates. Although a Bloomberg report downplayed the likelihood of a policy shift, investors remained alert. The won had been among the weakest Asian currencies last year but has rebounded nearly 6% in 2025.
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The US dollar index, which tracks the dollar against a basket of six major currencies, slipped by 0.11% to 100.89, though it remains on track for a fourth consecutive week of gains.
Oil prices also declined sharply during early Thursday trading. Brent crude dropped by $1.49 to $64.60 per barrel, while US WTI crude fell $1.46 to $61.69. A surprising rise in US oil inventories and hopes of progress in US-Iran nuclear talks added downward pressure.