Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee posted marginal gain against the US dollar in the inter-bank market on Monday.
At close, the local currency settled at 278.51, a gain of Re0.01 against the greenback.
On Friday, the local unit closed at 278.52.
Meanwhile, against the yen, the US dollar was down 0.2% at 158.87 yen, while the euro rose 0.3% to $1.1642 and the British pound gained 0.4% to $1.3485.
The Australian dollar advanced 0.4% to $0.7160, while its kiwi counterpart tacked on 0.5% to $0.5877.
Over the weekend, hopes for a lasting peace deal appeared fragile. US President Donald Trump wrote on Saturday that a memorandum of understanding on a peace deal with Iran had been “largely negotiated,” with both countries and mediators in Pakistan reporting progress.
However, the US blockade on Iranian ships in the Strait of Hormuz would “remain in full force and effect until an agreement is reached, certified, and signed,” Trump wrote on Truth Social on Sunday. There was no immediate response from Iran’s government.
Oil prices fell about 5% to two-week lows on Monday as optimism grew that the United States and Iran were moving closer to a peace deal, even though they remain at odds over key issues such as blockades on the Strait of Hormuz.
Brent crude futures were down $5.04, or 4.9%, at $98.50 a barrel at 1327 GMT and U.S. West Texas Intermediate futures were down $4.82, or 5%, at $91.78. Both contracts traded at their lowest since May 7.
Inter-bank market rates for dollar on Monday
BID Rs 278.51
OFFER Rs 278.71
Open-market movement
In the open market, the PKR gained 13 paise for buying and remained unchanged for selling against USD, closing at 278.70 and 279.56, respectively.
Against Euro, the PKR lost 46 paise for buying and 43 paise for selling, closing at 322.96 and 326.40, respectively.
Against UAE Dirham, the PKR gained 3 paise for buying and 2 paise for selling, closing at 75.70 and 76.55, respectively.
Against Saudi Riyal, the PKR gained 9 paise for buying and 6 paise for selling, closing at 73.86 and 74.70, respectively.
Open-market rates for dollar on Monday
BID Rs 278.70
OFFER Rs 279.56
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