Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee continued to gain against the US dollar during trading in the inter-bank market on Tuesday.
At close, the local currency settled at 278.66, a gain of Re0.01 against the greenback.
On Monday, the local unit closed at 278.67.
The US dollar held its ground on Tuesday.
The euro last bought $1.1775, while sterling was at $1.3602, both steady on the day. The dollar index, which measures the U.S. currency against six others, was at 97.98.
The dollar initially benefited from safe haven flows when the war first broke out, but has since given up much of those gains and remains choppy on shaky prospects of a peace deal and a ceasefire that appears to be hanging by a thread.
Oil prices rose by more than 3% on Tuesday as stark differences between the U.S. and Iran over a proposal to end the war in the Middle East pushed supply concerns back into the spotlight.
Brent crude futures gained $3.34, or 3.21%, to $107.55 a barrel by 1314 GMT, and U.S. West Texas Intermediate was up $3.18, or 3.24%, at $101.25. Both benchmarks climbed nearly 3% on Monday.
Inter-bank market rates for dollar on Tuesday
BID Rs 278.66
OFFER Rs 278.86
Open-market movement
In the open market, the PKR gained 1 paisa for both buying and selling against USD, closing at 279.04 and 279.86, respectively.
Against Euro, the PKR gained 46 paise for buying and 19 paise for selling, closing at 327.14 and 330.43, respectively.
Against UAE Dirham, the PKR lost 2 paise for buying and gained 2 paise for selling, closing at 75.94 and 76.77, respectively.
Against Saudi Riyal, the PKR gained 4 paise for buying and lost 2 paise for selling, closing at 74.28 and 75.07, respectively.
Open-market rates for dollar on Tuesday
BID Rs 279.04
OFFER Rs 279.86
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