Rupee’s Performance Against US Dollar Since 04 March 2025
The Pakistani rupee continued to gain against the US dollar in the inter-bank market on Wednesday.
At close, the local currency settled at 278.65, a gain of Re0.01 against the greenback.
On Tuesday, the local unit closed at 278.66.
Moreover, the State Bank of Pakistan (SBP) said on Wednesday it received about $1.3 billion from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF).
“The amount would be reflected in SBP’s foreign exchange reserves for the week ending on May 15, 2026,” the SBP said.
Meanwhile, the dollar held near a one-week high on Wednesday as risk sentiment soured after a hot U.S. inflation reading sent Treasury yields higher, and oil inched up on renewed Middle East uncertainty.
The euro stood at $1.1735 and the sterling traded at $1.3532, both down roughly 0.05% against the greenback in early Asia trades.
The U.S. dollar index, which tracks the greenback against a basket of six major currencies, was steady at 98.335, near the strongest level in a week.
Globally, oil prices fell on Wednesday, snapping a three-day rally.
Brent crude futures dropped $1.22, or 1.1%, to $106.55 a barrel at 0410 GMT. U.S. West Texas Intermediate futures fell $1.16, or 1.1%, to $101.02.