Rupee's Performance Against US Dollar Since 04 March 2025 The Pakistani rupee registered marginal gain against the US dollar in the inter-bank market on Tuesday. At close, the local currency settled at 279.45, a gain of Re0.01 against the greenback. On Monday , the local unit closed at 279.46. Internationally, the yen and ​euro were broadly lower on Tuesday as the widening Middle East conflict focused attention on countries ‌dependent on energy imports and how central banks may respond to inflation pressures. The US dollar benefited from safe-haven demand as the US and Israeli air war against Iran spilled out into neighboring countries. The euro steadied after sliding more than 1% as ​doubts swirled about when oil shipments from the region will be restored. The dollar index, which measures the greenback against ​a basket of currencies, traded at 98.49 after a 0.9% surge in the previous session. The euro ​edged up 0.07% to $1.1695. Euro sags, dollar gains as Iran war lifts energy prices The yen tacked on 0.09% to 157.2 per dollar after a 0.8% tumble in Monday’s session. Sterling ‌was little ⁠changed at $1.3407. Israel attacked Lebanon in response to strikes by Hezbollah, and Tehran kept up its missile and drone attacks on Gulf states. Qatar halted its production of liquefied natural ​gas on Monday, prompting ​precautionary shutdowns of oil ⁠and gas facilities across the Middle East. Europe and Japan are more exposed to higher energy costs than the US, which is a net energy exporter. Concerns that higher inflation will ​delay the Federal Reserve’s next cut in interest rates also boosted the dollar. A ​rate cut is ⁠no longer fully priced in until September, compared to previous expectations of July, based on pricing in the Fed funds futures market. Traders continue to price in two 25-basis-point cuts by year-end. Oil prices , a key indicator of currency parity, rose more than $3 on Tuesday for a third day of gains as the widening US-Israeli conflict with Iran and threats to shipping via the Strait of Hormuz heightened fears of supply disruptions from the key Middle East producing region. Brent crude futures were at $80.89 a barrel, up $3.15, or 4.1%, by 0745 GMT. On Monday, the contract surged to as high as $82.37, its highest since January 2025, though it pared those gains to settle 6.7% higher.