PKR to Dollar up on May 12, 2025
Staff Report
Islamabad: The Pakistani rupee appreciated by 0.05% against the US dollar in the inter-bank market, closing at Rs281.57.
Currency Converter
It had gained slightly by 14 paisas from the previous session.
The rupee against the dollar had dropped by 65 paisas or 0.23% while closing at Rs281.71 during the last week against Rs281.06 the week before, the State Bank of Pakistan revealed.
Global Market Highlights
The US dollar had gained in early Asian trade following weekend talks between the US and China, which eased fears of a trade war.
Two sides had brokered a deal to help normalize the US trade deficit.
The dollar had surged 0.6% to 146.19 yen. The dollar index witnessed a high of 0.1%, nearing a one-month high.
Experts say that investors are now looking towards upcoming US data, especially inflation figures and interest rate changes.
Oil Prices Surge
Oil prices had also witnessed an increase of more than $2 in Asian trading after it gained following a reduction in trade tensions between the US and China. This lifted market has revived hopes for improved demand.
- Brent crude: Up $2.11 (3.3%) to $64.14 per barrel
- WTI crude: Up $2.12 (3.47%) to $63.14 per barrel
