Rupee inches up against US dollar
- Settles at 278.60 against greenback
The Pakistani rupee posted a marginal gain against the US dollar on Monday, closing at 278.60, while the US dollar firmed globally amid Middle East tensions and rising oil prices.
- Pakistani rupee's marginal gain against the US dollar.
- Global strengthening of the US dollar.
- Rising international oil prices.
Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee posted marginal gain against the US dollar in inter-bank market on Monday.
At close, the local currency settled at 278.60, a gain of Re0.01 against the greenback.
On Friday, the local unit closed at 278.61.
Pakistan’s current account posted deficit of $324 million in April 2026, data released by the State Bank of Pakistan (SBP) showed on Monday. The deficit followed a surplus of $1,134 million recorded in March 2026 and deficit of $12 million in April 2025.
The US dollar firmed against most major currencies on Monday as fresh Middle East tensions lifted oil prices and a global bond selloff dented risk appetite, while yen weakness kept traders on alert for possible Japanese intervention.
The euro was last at $1.1609 and sterling fetched $1.3305, both down more than 0.1%.
The risk-sensitive Australian dollar weakened 0.4% to $0.7121, while the New Zealand dollar was little changed at $0.5827.
The dollar index, which measures the greenback against a basket of major currencies, was a touch firmer at 99.393.
Oil prices dropped on Monday after an Iranian news report saying that the United States had accepted waiving sanctions on Iranian crude oil temporarily.
Brent crude futures fell $1.48, or 1.4%, to $107.78 a barrel by 1310 GMT after touching $112 for their highest since May 5.
Inter-bank market rates for dollar on Monday
BID Rs 278.60
OFFER Rs 278.80
Open-market movement
In the open market, the PKR gained 3 paise for buying and 8 paise for selling against USD, closing at 279.00 and 279.74, respectively.
Against Euro, the PKR gained 51 paise for buying and 54 paise for selling, closing at 323.70 and 326.93, respectively.
Against UAE Dirham, the PKR gained 3 paise for buying and 6 paise for selling, closing at 75.89 and 76.69, respectively.
Against Saudi Riyal, the PKR gained 2 paise for buying and remained unchanged for selling, closing at 74.22 and 74.97, respectively.
Open-market rates for dollar on Monday
BID Rs 279.00
OFFER Rs 279.74
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