Pakistan rupee registers gain against US dollar
- Currency settles at 279.26 against greenback
Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee posted marginal gain against the US dollar in the inter-bank market on Wednesday.
At close, the local currency settled at 279.26, up by Re0.01 against the greenback.
On Tuesday, the local unit closed at 279.27.
Globally, the US dollar took a breather on Wednesday as easing crude oil prices sparked a glimmer of risk appetite in the markets ahead of a slate of key central bank decisions.
The dollar index, which measures the greenback against a basket of currencies, edged up 0.06% to 99.61 after a two-day decline. The euro was down 0.05% at $1.1532.
The yen weakened 0.01% against the greenback to 159.00 per dollar. Sterling held steady at $1.3355.
The dollar reached a 10-month high at the end of last week as the Middle East conflict and rising oil prices prompted investors to seek safety in U.S. assets.
Moreover, Brent crude prices rose more than 4% on Wednesday after Iran’s Revolutionary Guards threatened several energy facilities across Saudi Arabia, UAE, and Qatar in retaliation for an attack on its energy sites, heightening the risk of further disruptions to energy supplies in the region.
Brent futures were up $4.53, or 4.4%, at $107.95 a barrel by 1321 GMT on Wednesday, having risen to as high as $108.60 earlier in the session.
U.S. West Texas Intermediate crude gained $1.91, or 2%, to $98.12.
Inter-bank market rates for dollar on Wednesday
BID Rs 279.25
OFFER Rs 279.45
Open-market movement
In the open market, the PKR lost 3 paise for buying and gained 1 paisa for selling against USD, closing at 279.41 and 280.32, respectively.
Against Euro, the PKR lost 1.21 rupee for buying and 1.13 rupee for selling, closing at 321.10 and 324.80, respectively.
Against UAE Dirham, the PKR lost 7 paise for buying and gained 3 paise for selling, closing at 75.82 and 76.75, respectively.
Against Saudi Riyal, the PKR lost 1 paisa for buying and gained 2 paise for selling, closing at 73.86 and 74.82, respectively.
Open-market rates for dollar on Wednesday
BID Rs 279.41
OFFER Rs 280.32
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