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 279.60, a gain of Re0.01 against the greenback.
On Monday, the local currency closed at 279.61, according to the State Bank of Pakistan (SBP).
Globally, the US dollar held gains on Tuesday as markets awaited signals, expected later this week, about the potential timing of rate cuts by the Federal Reserve.
The yen trimmed losses from a day earlier when worse-than-expected Japanese economic data stirred expectations that the government would ramp up stimulus.
The Aussie dollar edged lower after the release of the Reserve Bank of Australia’s minutes from its February meeting.
Trading was thin with many markets in Asia closed for the Lunar New Year holiday and following the President’s Day holiday in the US Key economic events lie later in the week, with minutes from the Fed’s last meeting and advance figures on US gross domestic product.
Moreover, oil prices, a key indicator of currency parity, were largely stable on Tuesday, as investors braced for nuclear talks between Iran and the US, and trilateral US-Ukraine-Russia peace talks, both taking place in Geneva.
Brent crude futures were down 10 cents, or 0.15%, at $68.55 a barrel at 1315 GMT, following a 1.33% gain on Monday.
Inter-bank market rates for dollar on Tuesday
BID Rs 279.60
OFFER Rs 279.80
Open-market movement
In the open market, the PKR gained 4 paise for buying and remained unchanged for selling against USD, closing at 280.10 and 280.66, respectively.
Against Euro, the PKR gained 62 paise for buying and 73 paise for selling, closing at 331.22 and 334.13, respectively.
Against UAE Dirham, the PKR gained 1 paisa for buying and 3 paise for selling, closing at 76.47 and 77.20, respectively.
Against Saudi Riyal, the PKR lost 5 paise for buying and remained unchanged for selling, closing at 74.74 and 75.33, respectively.
Open-market rates for dollar on Tuesday
BID Rs 280.10
OFFER Rs 280.66
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