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 Wednesday.
At close, the local currency settled at 279.21, a gain of Re0.01 against the greenback.
On Tuesday, the local unit closed at 279.22.
Internationally, currency markets showed signs of fatigue early in Asian trade on Wednesday, with traders cautious over US President Donald Trump’s efforts to bring an end to the war with Iran.
The euro edged higher, up 0.1% at $1.1619, with most other currency pairs remaining unchanged.
The British pound was up 0.1% at $1.3428, while the New Zealand dollar was flat at $0.5834.
Against the yen, the US dollar was steady at 158.645 yen, after the release of minutes from the Bank of Japan’s January policy meeting showed many board members saw the need to keep raising interest rates without any specific pace in mind.
Additionally, oil prices slid about 4% on Wednesday on reports that the US had sent Iran a 15-point proposal aimed at ending the war, prompting talk of progress toward a ceasefire.
Brent futures fell 3.96, or 3.8%, to $100.53 a barrel at 10:41 a.m. EDT (1441 GMT), while US West Texas Intermediate (WTI) crude fell $3.57, or 3.9%, to $88.78.
Inter-bank market rates for dollar on Wednesday
BID Rs 279.21
OFFER Rs 279.41
Open-market movement
In the open market, the PKR gained 3 paise for buying and remained unchanged for selling against USD, closing at 279.46 and 280.27, respectively.
Against Euro, the PKR lost 23 paise for buying and 29 paise for selling, closing at 322.90 and 326.31, respectively.
Against UAE Dirham, the PKR lost 5 paise for buying and remained unchanged for selling, closing at 75.87 and 76.77, respectively.
Against Saudi Riyal, the PKR lost 2 paise for buying and 3 paise for selling, closing at 74.01 and 74.91, respectively.
Open-market rates for dollar on Wednesday
BID Rs 279.46
OFFER Rs 280.27
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