Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee gained against the US dollar in the inter-bank market on Thursday.
At close, the local currency settled at 278.35 , a gain of Re0.01 against the greenback.
On Wednesday, the local unit closed at 278.36.
Meanwhile, the US dollar wobbled on Thursday as new US strikes in the Middle East undermined sentiment, while a surge in May US consumer inflation to a three-year high kept investors uneasy about the Federal Reserve’s monetary policy outlook.
The euro bought $1.1553, inching away from the 10-week low it hit last week, but has given up most of its gains since a ceasefire was struck in early April. The spotlight will be on the European Central Bank policy meeting later in the day as it looks poised to raise rates to tackle inflation.
Sterling was at $1.33905. The dollar index , which measures the US currency against six major peers, eased to 99.903 after US military said it has completed strikes against multiple targets in Iran.
Oil prices were nearly flat on Thursday as investors weighed the impact of supply disruptions from the war in the Middle East after President Donald Trump warned that the US military would hit Iran “very hard tonight”.
Hostilities between the US and Iran have recently escalated. Trump said the US will soon take control of Iran’s oil and gas infrastructure and markets while Washington launched additional strikes against the country. Meanwhile, Tehran declared the Strait of Hormuz closed.
Brent futures were down 12 cents, or 0.1%, to $92.98 a barrel by 1303 GMT, while US West Texas Intermediate (WTI) crude gained 7 cents, or 0.1%, to $90.10.
Inter-bank market rates for dollar on Thursday
BID Rs 278.35
OFFER Rs 278.55
Open-market movement
In the open market, the PKR lost 6 paise for buying and 8 paise for selling against USD, closing at 278.67 and 279.57, respectively.
Against Euro, the PKR lost 2 paise for buying and 19 paise for selling, closing at 321.39 and 324.77, respectively.
Against UAE Dirham, the PKR lost 3 paise for buying and 5 paise for selling, closing at 75.80 and 76.49, respectively.
Against Saudi Riyal, the PKR lost 7 paise for buying and 8 paise for selling, closing at 74.14 and 74.76, respectively.
Open-market rates for dollar on Thursday
BID Rs 278.67
OFFER Rs 279.57
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