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 Thursday.
At close, the local currency settled at 278.86, a gain of Re0.01, against the greenback.
On Wednesday, the local unit closed at 278.87.
Meanwhile, the US dollar wobbled near a 1-1/2-week high on Thursday.
The euro was fetching $1.1712, having touched its lowest since April 13 earlier in the session. The single currency is headed for a 0.4% decline in the week, its first drop in four weeks. Sterling stood at $1.3497.
The dollar benefited in March on safe-haven demand as the war erupted but the prospect of a peace deal and a ceasefire at the start of this month spurred a risk-on rally, with the greenback giving up most of its gains.
The US dollar index, which measures the currency against a basket of six major peers, was at 98.644, near its highest level since April 13. The index is on track for a moderate 0.4% gain this week following two weekly drops.
Moreover, oil prices were marginally lower on Thursday after big gains in the previous session.
Brent crude futures fell 15 cents to $101.76 a barrel, after settling above $100 for the first time in more than two weeks on Wednesday. West Texas Intermediate futures fell 14 cents to $92.82.
Both benchmarks closed more than $3 higher on Wednesday after larger-than-expected gasoline and distillate stock draws in the U.S., and over the lack of progress on peace talks.
Inter-bank market rates for dollar on Thursday
BID Rs 278.86
OFFER Rs 279.06
Open-market movement
In the open market, the PKR lost 8 paise for buying and remained unchanged for selling against USD, closing at 279.39 and 280.17, respectively.
Against Euro, the PKR gained 1.22 rupee for buying and 1.41 rupee for selling, closing at 326.22 and 329.33, respectively.
Against UAE Dirham, the PKR lost 1 paisa for buying and gained 2 paise for selling, closing at 76.04 and 76.85, respectively.
Against Saudi Riyal, the PKR lost 4 paise for buying and remained unchanged for selling, closing at 74.29 and 75.02, respectively.
Open-market rates for dollar on Thursday
BID Rs 279.39
OFFER Rs 280.17
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