Rupee records gain against US dollar
- Settles at 278.40 against greenback
The Pakistani Rupee saw a slight gain against the US dollar in the inter-bank market, closing at 278.40, while the US dollar strengthened globally on strong jobs data.
- Pakistani Rupee's inter-bank performance against the US dollar.
- Global strengthening of the US dollar after a strong jobs report.
- International oil price movements amid Middle East tensions.
- Open market exchange rates for the Pakistani Rupee.
Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee appreciated against the US dollar in the inter-bank market on Monday.
At close, the local currency settled at 278.40, a gain of Re0.01 against the greenback.
On Friday, the local unit closed at 278.41.
Meanwhile, the US dollar was perched near a two-month high on Monday after a blowout US jobs report sent traders ramping up bets on a Federal Reserve rate hike this year, while the yen teetered further into the intervention zone.
Moves in currencies were largely muted compared to the broader market, where a rout in technology stocks swept across Asia. The dollar held to its strong gains made in the wake of the report that showed nonfarm payrolls increased by 172,000 jobs last month, far exceeding estimates.
Against the US dollar, the euro fell to a two-month low of $1.1507, while sterling struggled at a three-week trough of $1.33165.
The Australian and New Zealand dollars similarly slid to their lowest in two months at $0.7016 and $0.5779, respectively.
Oil prices pared gains on Monday, after rising more than 5% earlier in the session, following an announcement from Iran’s military that a wave of attacks on Israel was over.
However, Iran warned of harsher attacks if Israel continues strikes on Lebanon.
Brent crude futures were up $1.43, or 1.5% at $94.52 a barrel as of 1304 GMT, while U.S. West Texas Intermediate crude futures were up $1.03, or 1.1%, at $91.57.
Inter-bank market rates for dollar on Monday
BID Rs 278.40
OFFER Rs 278.60
Open-market movement
In the open market, the PKR lost 10 paise for buying and remained unchanged for selling against USD, closing at 278.55 and 279.47, respectively.
Against Euro, the PKR gained 2.33 rupees for buying and 1.93 rupee for selling, closing at 320.07 and 323.82, respectively.
Against UAE Dirham, the PKR lost 6 paise for buying and 8 paise for selling, closing at 75.63 and 76.37, respectively.
Against Saudi Riyal, the PKR lost 10 paise for both buying and selling, closing at 73.93 and 74.60, respectively.
Open-market rates for dollar on Monday
BID Rs 278.55
OFFER Rs 279.47
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