The Pakistani rupee appreciated 0.01% against the US dollar in the inter-bank market on Monday.
At close, the local currency settled at 278.47, a gain of Re0.03 against the greenback.
On Friday, the local unit closed at 278.50.
Pakistan’s headline inflation clocked in at 11.7% on a year-on-year (YoY) basis in May 2026, Pakistan Bureau of Statistics (PBS) data showed.
The consumer price index (CPI) was recorded at 10.9% in April 2026. The CPI stood at 3.5% in May 2025.
Pakistan aims for an economic growth rate to 4% in the upcoming fiscal year, up from an estimated 3.7% in FY26, even as the country manages crude price shock from the ongoing conflict in the Middle East and remains under the International Monetary Fund (IMF) programme.
The GDP growth projected is driven by stronger performance in the agriculture, industry, and services sectors, according to projections shared by Topline Research.
Meanwhile, the US dollar held steady on Monday after a weekly loss.
The dollar index of the greenback against a basket of currencies including the yen and the euro, was flat at 99.00, after last week’s drop of 0.4%. The euro fell 0.08% to$1.165.
The yen weakened 0.08% to 159.41 per dollar.
Sterling slipped 0.07% to $1.3449.
Oil prices rose more than 3% on Monday after Iran and the US traded strikes and Israel ordered troops to move further into Lebanon in its battle with Hezbollah.
Brent futures were up $2.68 or 3% at $93.80 a barrel at 1121 GMT. U.S. crude futures rose $3.03 or 3.5% to $90.39 a barrel. Over May, Brent and WTI lost around 19% and 17%, respectively. It was both contracts’ biggest monthly fall in absolute terms since March 2020 when the coronavirus pandemic slashed energy demand.
The fighting in the Middle East, after Washington hosted Israel-Lebanon peace talks on Friday, dimmed hopes that the US and Iran could soon announce an extension to their ceasefire.
Inter-bank market rates for dollar on Monday
BID Rs 278.47
OFFER Rs 278.67
Open-market movement
In the open market, the PKR gained 9 paise for buying and 4 paise for selling against USD, closing at 278.64 and 279.52, respectively.
Against Euro, the PKR lost 31 paise for buying and 34 paise for selling, closing at 322.77 and 326.08, respectively.
Against UAE Dirham, the PKR gained 3 paise for buying and 4 paise for selling, closing at 75.65 and 76.48, respectively.
Against Saudi Riyal, the PKR remained unchanged for buying and gained 3 paise for selling, closing at 73.85 and 74.67, respectively.
Open-market rates for dollar on Monday
BID Rs 278.64
OFFER Rs 279.52
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