Business Recorder
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 279.15, a gain of Re0.01, against the greenback. On Monday , the local unit closed at 279.16. Meanwhile, the US dollar headed for its biggest monthly gain since July on Tuesday and stands out as the strongest so-called safe asset as war in the Mideast has set oil prices surging and raised the risk of global recession. Overnight, the dollar extended gains widely , save for against the yen where renewed threats of intervention from Tokyo have traders wary of selling the yen too far past 160 per dollar. The US dollar index touched its highest since last May on Monday at 100.61 and is up 2.9% through March, its sharpest monthly rise since last July. Additionally, oil prices were little changed on Tuesday as investors weighed the possibility of US President Donald Trump ending the Iran war against supply shocks from a prolonged closure of the Strait of Hormuz, a key artery for global oil flows. Brent crude futures for May were up 18 cents, or 0.16%, to $112.96 per barrel at 0438 GMT after dropping 1% earlier in the session. The May contract expires on Tuesday and the more active June contract was at $107.10.
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