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 Monday.
At close, the local currency settled at 279.00 against the greenback.
On Friday, the local unit closed at 279.01.
Moreover, the safe-haven dollar advanced broadly in early Asian trade on Monday, as peace talks between the US and Iran broke down and the US Navy prepared a blockade of Iranian ports.
The euro was down 0.3% at $1.1684, while the British pound fell 0.5% to $1.3398. The risk-sensitive Australian dollar was 0.6% lower at $0.7030, and the New Zealand dollar was off 0.4% at $0.5816.
The US dollar index, which measures the greenback’s strength against a basket of six currencies, held steady at 99.056, near its highest level since April 7.
Against the yen, the US dollar was up 0.4% at 159.83 yen as yields on Japan’s benchmark 10-year government bonds jumped 5.5 basis points to 2.49%, the highest level in almost three decades.
Oil prices, a key indicator of currency parity, jumped back above $102 a barrel on Monday as the US Navy prepared to block ships to and from Iran via the Strait of Hormuz in a move that could restrict Iranian oil exports after Washington and Tehran failed to reach a deal to end the war.
Brent crude futures gained $7.32, or 7.7%, to $102.52 a barrel by 1215 GMT after settling 0.75% down on Friday. U.S. West Texas Intermediate was up $7.65, or 7.9%, at $104.22 after a 1.33% loss in the previous session.
Inter-bank market rates for dollar on Monday
BID Rs 279.00
OFFER Rs 279.20
Open-market movement
In the open market, the PKR gained 9 paise for buying and lost 5 paise for selling against USD, closing at 279.48 and 280.30, respectively.
Against Euro, the PKR gained 1.13 paise for buying and 1.04 paise for selling, closing at 326.30 and 329.44, respectively.
Against UAE Dirham, the PKR gained 6 paise for buying and lost 8 paise for selling, closing at 76.19 and 77.03, respectively.
Against Saudi Riyal, the PKR gained 12 paise for buying and lost 2 paise for selling, closing at 74.49 and 75.25, respectively.
Open-market rates for dollar on Monday
BID Rs 279.48
OFFER Rs 280.30
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