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 Tuesday.
At close, the local currency settled at 278.97, a gain of 0.03, against the greenback.
On Monday, the local unit closed at 279.00.
Meanwhile, the dollar index, which measures the greenback against a basket of six currencies, was 0.037% higher at 98.38.
The US said it was continuing to engage with Tehran on a possible deal to end the conflict, even as it began a blockade of Iran’s ports on Monday.
The spot yuan opened at 6.8204 per dollar and was last trading at 6.8194 at 0209 GMT, 106 pips firmer than the previous late-session close.
The yuan is up 1.2% against the dollar this month and is 2.6% firmer this year, as booming exports push up China’s currency and companies convert their dollar holdings to yuan.
Additionally, oil prices fell in early Asian trade on Tuesday.
Brent futures declined by $1.86, or 1.87%, to $97.50, while US West Texas Intermediate (WTI) crude fell $2.25, or 2.27%, to $96.83 by 0003 GMT.
Both benchmarks had risen in the previous session, with Brent climbing more than 4% and WTI nearly 3%, after the US military began a blockade of Iran’s ports.
Inter-bank market rates for dollar on Tuesday
BID Rs 278.97
OFFER Rs 279.17
Open-market movement
In the open market, the PKR gained 8 paise for buying and 4 paise for selling against USD, closing at 279.40 and 280.26, respectively.
Against Euro, the PKR lost 2.09 rupees for buying and 2.19 rupees for selling, closing at 328.39 and 331.63, respectively.
Against UAE Dirham, the PKR gained 5 paise for buying and 2 paise for selling, closing at 76.14 and 77.01, respectively.
Against Saudi Riyal, the PKR gained 10 paise for buying and 7 paise for selling, closing at 74.39 and 75.18, respectively.
Open-market rates for dollar on Tuesday
BID Rs 279.40
OFFER Rs 280.26
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