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 279.41, a gain of Re0.01 against the greenback.
On Wednesday, the local unit closed at 279.42.
Internationally, the dollar halted its blistering rally on Thursday, providing some reprieve to the battered euro, as investors clung to fragile assumptions that the war in the Middle East might not last as long as initially expected.
The dollar further eased from an over three-month high hit earlier this week and stood at 98.82 against a basket of currencies.
The euro was steady at $1.1628, having slid to a more than three-month low on Tuesday, while sterling was little changed at $1.3368.
The yen found some support on Thursday from a weaker greenback and rose 0.2% to 156.79 per dollar.
The Australian dollar held on to its 0.57% gain from the previous session and last stood at $0.7068, while the New Zealand dollar eased slightly to $0.5939.
Oil prices, a key indicator of currency parity, rose more than 3% on Thursday, extending a rally as the escalating US-Israeli war with Iran disrupted supplies and shipping, prompting some major producers to cut output and others to take measures to ensure supply security.
Brent crude was up $2.64, or 3.2%, at $84.04 per barrel by 1425 GMT, a fifth session of gains. US West Texas Intermediate crude rose $3.35, or 4.5%, to $78.01.
Inter-bank market rates for dollar on Thursday
BID Rs 279.41
OFFER Rs 279.61
Open-market movement
In the open market, the PKR lost 25 paise for buying and remained unchanged for selling against USD, closing at 279.63 and 280.45, respectively.
Against Euro, the PKR lost 61 paise for buying and 41 paise for selling, closing at 324.30 and 327.81, respectively.
Against UAE Dirham, the PKR lost 19 paise for buying and 14 paise for selling, closing at 75.98 and 76.99, respectively.
Against Saudi Riyal, the PKR lost 21 paise for buying and 14 paise for selling, closing at 74.21 and 75.17, respectively.
Open-market rates for dollar on Thursday
BID Rs 279.63
OFFER Rs 280.45
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