Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee registered marginal gain, appreciating 0.01% against the US dollar in the inter-bank market on Monday.
At close, the local currency settled at 279.37, a gain of Re0.03 against the greenback.
On Friday, the local unit closed at 279.40.
Furthermore, the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) decided to keep the policy rate unchanged at 10.5%.
Internationally, the dollar surged on Monday as soaring oil prices sent investors scrambling for cash on worries that a protracted Middle East war could severely disrupt energy supplies and hurt global growth.
The euro last traded 0.9% lower at $1.1517, having slid to a 3-1/2-month low earlier in the session, while sterling slid 1% to $1.3294.
Against the Swiss franc, the dollar was up 0.75% at 0.7817. The Australian and New Zealand dollars slid 0.77% and 0.5%, respectively.
Analysts have said Asia could bear the brunt of the energy price shock, due to the region’s heavy reliance on oil and gas from the Middle East.
The dollar was a whisker away from the 159 yen level in Asia, rising 0.55% to 158.70 , and it jumped 1% against the South Korean won to 1,496.40.
Moreover, oil prices came off earlier highs on Monday but were still up more than 15% at levels not seen since mid-2022 as some major producers cut supplies and fears of prolonged shipping disruptions gripped the market due to the expanding US-Israeli war with Iran.
Brent crude futures were up $15.51, or 16.7%, at $108.20 per barrel at 0642 GMT - on track for the biggest-ever jump in a single day, while US West Texas Intermediate (WTI) crude futures were up $14.23, or 15.7%, at $105.13.
Inter-bank market rates for dollar on Monday
BID Rs 279.37
OFFER Rs 279.57
Open-market movement
In the open market, the PKR gained 5.00 paisa for buying and 3.00 paisa for selling against USD, closing at 279.65 and 280.42, respectively.
Against Euro, the PKR gained 2.21 rupees for buying and 1.79 rupee for selling, closing at 322.44 and 326.14, respectively.
Against UAE Dirham, the PKR gained 18.00 paisa for buying and 22.00 paisa for selling, closing at 75.81 and 76.71, respectively.
Against Saudi Riyal, the PKR gained 15.00 paisa for buying and 16.00 paisa for selling, closing at 74.03 and 74.96, respectively.
Open-market rates for dollar on Monday
BID Rs 279.65
OFFER Rs 280.42
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