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 Thursday.
At close, the local currency settled at 279.02, a gain of Re0.03, against the greenback.
On Wednesday, the local unit closed at 279.05.
Moreover, the dollar caught its breath in early Thursday trade after broad losses.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.03% to 99.09, with the euro down 0.07% at $1.1654.
The yen also gave back some of the previous day’s gains, weakening 0.06% against the greenback to 158.7 per dollar.
Sterling eased 0.04% to $1.3387.
The greenback sank to a one-month low on Wednesday after the announcement of the truce in the Middle East conflict.
Oil prices rose nearly 5% on Thursday as doubts over a fragile two-week Middle East ceasefire raised concerns that energy flows through the crucial Strait of Hormuz will remain restricted, with shippers hesitant to resume transit.
Brent crude futures were up $4.41, or 4.7%, at $99.14 a barrel at 1449 GMT (10:49 a.m. ET), while U.S. West Texas Intermediate (WTI) crude rose $7.57, or 8%, to $99.15 a barrel.
Both benchmarks fell below $100 per barrel in the previous trading session, with WTI recording its biggest decline since April 2020, on optimism the ceasefire would result in a reopening of the strait.
Inter-bank market rates for dollar on Thursday
BID Rs 279.02
OFFER Rs 279.22
Open-market movement
In the open market, the PKR lost 3 paise for buying and gained 2 paise for selling against USD, closing at 279.53 and 280.30, respectively.
Against Euro, the PKR gained 8 paise for buying and 14 paise for selling, closing at 325.73 and 328.97, respectively.
Against UAE Dirham, the PKR lost 8 paise for buying and 9 paise for selling, closing at 76.17 and 77.04, respectively.
Against Saudi Riyal, the PKR lost 7 paise for both buying and selling, closing at 74.51 and 75.28, respectively.
Open-market rates for dollar on Thursday
BID Rs 279.53
OFFER Rs 280.30
Comments