Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee posted marginal gain, appreciating 0.01%, against the US dollar in the inter-bank market on Wednesday.
At close, the local currency settled at 278.27, a gain of Rs0.03 against the greenback.
On Tuesday, the local unit closed at 278.30.
The dollar eased on Wednesday ahead of the Federal Reserve’s first policy decision under Chair Kevin Warsh.
The yen found little respite against a weaker greenback and teetered further into intervention territory.
The euro steadied at $1.1611 while sterling was little changed at $1.3430.
The New Zealand dollar edged slightly higher to $0.5833.
Against a basket of currencies, the dollar eased slightly to 99.53, unwinding some of its safe-haven gains made as details emerged of the US and Iran’s interim agreement to end the war in the Middle East.
Oil prices rose more than 1% on Wednesday after US President Donald Trump said the new ceasefire agreement with Iran was not final and the Iran war could resume if he was unsatisfied, but concerns over excess supply next year limited the gains.
Brent crude futures were up 89 cents, or around 1.1%, at $79.85 a barrel at 11:34am ET (1534 GMT), and US West Texas Intermediate gained 91 cents, or 1.2%, to $76.96. Both contracts hit their lowest since early March earlier in the session.
Inter-bank market rates for dollar on Wednesday
BID Rs 278.27
OFFER Rs 278.47
Open-market movement
In the open market, the PKR gained 2 paise for buying and 3 paise for selling against USD, closing at 278.70 and 279.57, respectively.
Against Euro, the PKR lost 24 paise for buying and 14 paise for selling, closing at 323.37 and 326.49, respectively.
Against UAE Dirham, the PKR remained unchanged for buying and lost 4 paise for selling, closing at 75.95 and 76.60, respectively.
Against Saudi Riyal, the PKR lost 2 paise for buying and 4 paise for selling, closing at 74.26 and 74.87, respectively.
Open-market rates for dollar on Wednesday
BID Rs 278.70
OFFER Rs 279.57
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