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 Wednesday.
At close, the local currency settled at 279.12, a gain of Re0.03 against the greenback.
On Tuesday, the local unit closed at 279.15.
Internationally, the US dollar was largely steady on Wednesday, with gains from safe-haven demand fading, as US President Donald Trump said the war with Iran could wind down within weeks, though conflicting signals on the conflict kept investors on edge.
The yen has recovered from this year’s low of 160.46 per dollar, moving back through the psychologically important 160 level that had fanned concerns of intervention by Japanese authorities.
The euro hit more than a one-week high.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.03% to 99.70, with the euro up 0.21% at $1.1576.
Oil reversed earlier gains on Wednesday as uncertainty over the situation in the Middle East unnerved markets and US President Donald Trump again suggested the US-Israeli war with Iran could be nearing an end.
The front-month Brent contract for June fell $1.85, or 1.8%, to $102.12 per barrel at 1414 GMT, having dropped to a session low of $98.35. US West Texas Intermediate crude futures for May slipped $1.07, or around 1.1%, to $100.31 per barrel, after falling to $96.50 earlier.
Inter-bank market rates for dollar on Wednesday
BID Rs 279.12
OFFER Rs 279.32
Open-market movement
In the open market, the PKR gained 12 paise for buying and 4 paise for selling against USD, closing at 279.36 and 280.18, respectively.
Against Euro, the PKR lost 3.22 rupees for buying and 2.96 rupees for selling, closing at 322.39 and 325.63, respectively.
Against UAE Dirham, the PKR lost 3 paise for buying and 1 paisa for selling, closing at 75.96 and 76.86, respectively.
Against Saudi Riyal, the PKR lost 3 paise for buying and remained unchanged for selling, closing at 74.23 and 75.00, respectively.
Open-market rates for dollar on Wednesday
BID Rs 279.36
OFFER Rs 280.18
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