Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee registered marginal gain against the US dollar in the inter-bank market on Tuesday.
At close, the local currency settled at 278.90, a gain of Re0.01, against the greenback.
On Monday, the local unit closed at 278.91.
Additionally, the State Bank of Pakistan (SBP) said on Tuesday it had received funds of $1 billion from the Ministry of Finance, Kingdom of Saudi Arabia.
“This is the second tranche of the $3 billion deposit recently agreed by the Kingdom of Saudi Arabia,” said the central bank.
The first tranche of $2 billion was received on April 15, 2026, it added.
Meanwhile, the dollar and yen were under pressure on Tuesday, with investors poised to buy riskier currencies and hoping for a US-Iran deal to reopen Gulf shipping, while a sticky inflation reading lifted the New Zealand dollar.
The euro stood at $1.1782, and sterling traded at $1.35225, both down roughly 0.1% so far on the day. The risk-sensitive Australian dollar weakened 0.1% to $0.7171 in early trading.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, was steady at 98.087 after a 0.2% decline on Monday.
Oil prices fell on Tuesday with expectations that peace talks between the U.S. and Iran might help to reopen the Strait of Hormuz, despite US President Donald Trump saying he does not want to extend a ceasefire which is running out within hours.
Brent crude futures edged down by 40 cents, or 0.4%, to $95.08 a barrel by 1329 GMT while US West Texas Intermediate (WTI) for May lost 41 cents to $89.20. The WTI May contract expires on Tuesday and the more active June contract traded down 0.5% at $87.00.
Inter-bank market rates for dollar on Tuesday
BID Rs 278.90
OFFER Rs 279.10
Open-market movement
In the open market, the PKR lost 1 paisa for buying and gained 3 paise for selling against USD, closing at 279.38 and 280.22, respectively.
Against Euro, the PKR lost 34 paise for buying and 12 paise for selling, closing at 327.97 and 331.20, respectively.
Against UAE Dirham, the PKR remained unchanged for buying and gained 5 paise for selling, closing at 76.04 and 76.89, respectively.
Against Saudi Riyal, the PKR lost 1 paisa for buying and gained 3 paise for selling, closing at 74.27 and 75.06, respectively.
Open-market rates for dollar on Tuesday
BID Rs 279.38
OFFER Rs 280.22
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