Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee posted marginal gain, appreciating 0.01%, against the US dollar in inter-bank market on Thursday.
At close, the local currency settled at 278.62, a gain of Rs0.03 against the greenback.
On Wednesday, the local unit closed at 278.65.
The US dollar got a lift from elevated US Treasury yields on Thursday as investors wagered the Federal Reserve would hike rates this year, while global focus moved to a two-day summit between US President Donald Trump and China’s Xi Jinping.
In the broader market, the dollar held steady on Thursday, leaving the euro little changed at $1.1714 and on track to lose 0.6% for the week, which would mark its largest decline in two months.
Sterling last bought $1.3524 and was headed for a weekly fall of roughly 0.8%, pressured in part by political turmoil at home.
Against a basket of currencies, the US dollar was last at 98.48, up more than 0.6% for the week thus far.
Crude oil futures dipped slightly on Thursday after Iran’s state media said about 30 vessels had crossed the Strait of Hormuz in recent hours, while the semi-official Fars news agency cited a source saying Iran had begun allowing transit for some Chinese vessels.
Brent crude oil futures were down 73 cents, or 0.7%, at $104.90 a barrel at 11:21 a.m. ET (1521 GMT), easing from an earlier high of $107.13. U.S. West Texas Intermediate futures were down 20 cents, or 0.2%, at $100.82.
Inter-bank market rates for dollar on Thursday
BID Rs 278.62
OFFER Rs 278.82
Open-market movement
In the open market, the PKR gained 2 paise for buying and 4 paise for selling against USD, closing at 279.01 and 279.82, respectively.
Against Euro, the PKR gained 10 paise for buying and 40 paise for selling, closing at 326.18 and 329.22, respectively.
Against UAE Dirham, the PKR remained unchanged for buying and gained 1 paisa for selling, closing at 75.92 and 76.75, respectively.
Against Saudi Riyal, the PKR gained 1 paisa for buying and remained unchanged for selling, closing at 74.25 and 74.98, respectively.
Open-market rates for dollar on Thursday
BID Rs 279.01
OFFER Rs 279.82
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