PKR vs USD Exchange Rate USD / PKR
The Pakistani rupee posted marginal gain against the US dollar in the inter-bank market on Tuesday.
At close, the local currency settled at 278.16, a gain of Re0.01 against the greenback.
On Monday, the local unit closed at 278.17.
Moreover, the yen was pinned at levels not seen since 1986 on Tuesday, stoking worries that a direct intervention from Tokyo was around the corner, while the dollar backed away from 13-month highs ahead of jobs data that could influence the US rate outlook.
The dollar index, which measures the US currency against six other units, was at 101.6, after dropping 0.26% in the previous session, but is on course for a 1.3% rise in the second quarter.
The euro was at $1.14165, while sterling last bought $1.3251. The Australian dollar eased 0.15% to $0.6876 and the New Zealand dollar fetched $0.5647.
Oil prices were heading on Tuesday for their biggest quarterly loss since the COVID-19 pandemic in early 2020, with investors eyeing potential US-Iran talks in Doha amid a strained interim ceasefire in the four-month-old war.
Brent August crude futures , which expire on Tuesday, were up 0.21%, or 15 cents, at $73.30 a barrel at 1302 GMT. However, the contract was on track for a third straight monthly decline, down about 20% so far in June.
The more actively traded September contract gained 0.61%, or 45 cents, to $74.36 a barrel.
Inter-bank market rates for dollar on Tuesday
BID Rs 278.16
OFFER Rs 278.36
Open-market movement
In the open market, the PKR gained 22 paise for buying and 17 paise for selling against USD, closing at 278.48 and 279.42, respectively.
Against Euro, the PKR lost 5 paise for buying and 7 paise for selling, closing at 317.50 and 320.99, respectively.
Against UAE Dirham, the PKR gained 3 paise for buying and 4 paise for selling, closing at 75.89 and 76.53, respectively.
Against Saudi Riyal, the PKR gained 3 paise for buying and 2 paise for selling, closing at 74.24 and 74.84, respectively.
Open-market rates for dollar on Tuesday
BID Rs 278.48
OFFER Rs 279.42
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