Rupee’s Performance Against US Dollar Since 04 March 2025
The Pakistani rupee continued to gain against the US dollar during trading in the inter-bank market on Tuesday.
At close, the local currency settled at 278.66, a gain of Re0.01 against the greenback.
On Monday, the local unit closed at 278.67.
The US dollar held its ground on Tuesday.
The euro last bought $1.1775, while sterling was at $1.3602, both steady on the day. The dollar index, which measures the U.S. currency against six others, was at 97.98.
The dollar initially benefited from safe haven flows when the war first broke out, but has since given up much of those gains and remains choppy on shaky prospects of a peace deal and a ceasefire that appears to be hanging by a thread.
Meanwhile, oil prices rose nearly 1% on Tuesday.
Brent crude futures were up 86 cents, or 0.8%, at $105.07 per barrel, while U.S. West Texas Intermediate gained 99 cents, or 1%, to $99.06 at 0411 GMT.
Both benchmarks increased nearly 2.8% on Monday.
Saudi Aramco CEO Amin Nasser on Monday warned that disruptions to oil exports through the strait could delay a return to market stability until 2027, with the loss of about 100 million barrels of oil per week.
Elsewhere on the supply front, U.S. crude stocks were forecast by analysts in a Reuters poll to be down by around 1.7 million barrels in the previous week.
