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 278.31, a gain of Re0.01 against the greenback.
On Friday, the local unit closed at 278.32.
Meanwhile, the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) on Monday decided to keep the policy rate unchanged at 11.5%.
Additionally, the US dollar slid on Monday to a 10-day low against its major peers as news that the United States had agreed to a peace deal with Iran sent oil prices tumbling and boosted demand for riskier assets.
The euro stood at $1.1607 , up 0.35% so far in Asia, and Sterling strengthened 0.3% to $1.3448 .
The risk-sensitive Australian dollar fetched $0.7075 , up 0.50%, while the kiwi was up 0.4% at $0.5854 .
The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, fell 0.31% to 99.492, the weakest level since June 5.
Oil prices slumped 5% to a three-month low on Monday amid a broad selloff after the US and Iran said they agreed terms to end their war and reopen the Strait of Hormuz.
Brent crude futures fell $4.38, or 5.02%, to $82.95 a barrel by 10:54 a.m. EDT (1455 GMT) and US West Texas Intermediate was at $80.28, down $4.60, or 5.42%. Both contracts fell to their lowest levels since March 10 on Monday after tumbling more than 3% on Friday. WTI futures fell as much as $5 during the session.
Inter-bank market rates for dollar on Monday
BID Rs 278.31
OFFER Rs 278.51
Open-market movement
In the open market, the PKR lost 8 paise for buying and 20 paise for selling against USD, closing at 278.75 and 279.75, respectively.
Against Euro, the PKR lost 1 rupee for buying and 1.11 rupee for selling, closing at 323.43 and 326.74, respectively.
Against UAE Dirham, the PKR lost 7 paise for buying and 6 paise for selling, closing at 75.94 and 76.59, respectively.
Against Saudi Riyal, the PKR lost 9 paise for buying and 3 paise for selling, closing at 74.27 and 74.83, respectively.
Open-market rates for dollar on Monday
BID Rs 278.75
OFFER Rs 279.75
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