Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee registered further gains against the US dollar, appreciating 0.01% in the inter-bank market on Tuesday.
At close, the currency settled at 280.78, a gain of Re0.03 against the greenback.
On Monday, the local unit closed at 280.81.
Globally, the safe-haven yen hit its lowest since February on Tuesday while riskier currencies were firm against the dollar, as traders anticipated an end to the US government shutdown in the coming days.
The euro was steady at $1.1555, and sterling has been creeping higher to $1.3165.
The US Senate passed a deal that would restore US federal funding and end the longest shutdown late on Monday.
It now heads to the House, where Speaker Mike Johnson has said he would like to pass it as soon as Wednesday and send it on to President Donald Trump to sign it into law.
A gain of about 0.7% for the Australian dollar to $0.6536 and a drop in the yen have been the biggest moves since a breakthrough Senate vote on Sunday.
Analysts said the moves could be vulnerable to reversal if the path to inking the shutdown deal dragged much beyond this week.
The New Zealand dollar has been under pressure for months as the economy slows and had on Tuesday hit a 12-year low against the Australian dollar, reflecting a divergent outlook for interest rates in the Antipodes.
Oil prices, a key indicator of currency parity, were stable on Tuesday, as oversupply concerns balanced uncertainty over the impact of the latest US sanctions on Russian oil. Brent crude futures were up 39 cents, or 0.61%, to $64.45 a barrel at 1254 GMT. US West Texas Intermediate crude was at $60.46 a barrel, up 33 cents, or 0.55%.
Inter-bank market rates for dollar on Tuesday
BID Rs 280.78
OFFER Rs 280.97
Open-market movement
In the open market, the PKR gained 3 paise for buying and 4 paise for selling against USD, closing at 281.32 and 281.81, respectively.
Against Euro, the PKR gained 7 paise for buying and 18 paise for selling, closing at 324.47 and 327.55, respectively.
Against UAE Dirham, the PKR lost 1 paisa for buying and remained unchanged for selling, closing at 76.62 and 77.40, respectively.
Against Saudi Riyal, the PKR gained 1 paisa for buying and remained unchanged for selling, closing at 74.94 and 75.59, respectively.
Open-market rates for dollar on Tuesday
BID Rs 281.32
OFFER Rs 281.81
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