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Rupee records gain against US dollar

March 12, 2026
in Markets
Rupee records gain against US dollar
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Rupee’s Performance Against US Dollar Since 04 March 2025

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The Pakistani rupee registered marginal gain, appreciating 0.01% against the US dollar in the inter-bank market on Thursday.

At close, the local currency settled at 279.32, a gain of Re0.03 against the greenback.

On Wednesday, the local unit closed at 279.35.

Earlier, IMF mission chief Iva Petrova said that Pakistan and the International Monetary Fund (IMF) have made “considerable progress” in discussions on the third review of the country’s Extended Fund Facility (EFF) programme, adding that talks will continue in the coming days to further assess the impact of recent global developments on the economy.

In a statement, she said that the IMF mission and the Pakistani authorities held discussions on the third review of the 37-month Extended Arrangement under the Extended Fund Facility (EFF) and the second review of the 28-month arrangement under the Resilience and Sustainability Facility (RSF).

“While considerable progress was made in the discussions, these will continue in the coming days, including to more fully assess the impact of recent global developments on Pakistan’s economy and the EFF-supported program,” the IMF chief said.

Globally, US dollar hovered close to its strongest levels this year on Thursday as climbing oil prices threatened to spur inflation ​and force central banks globally to adopt more hawkish policy stances.

The euro fell 0.1% against the greenback to $1.1549 in early Asian ‌trading, nearing its lowest level since November.

Japan’s yen briefly declined past the 159-per-dollar mark, easing as much as 0.2% to 159.23 and approaching its weakest level since July 2024.

The Australian dollar dropped 0.1% at $0.7148, while the New Zealand dollar slid 0.1% to $0.5907.

Moreover, oil prices jumped on Thursday as Iran stepped up attacks on oil and transport facilities across the Middle East, raising fears of a prolonged conflict and oil-flow disruptions through the Strait of Hormuz.

Brent futures rose $8.54, or 9.28%, to $100.52 a barrel at 0354 GMT, while US West Texas Intermediate crude was up $7.22, or 8.28%, to $94.47.

Brent hit $119.50 a barrel on Monday, its highest since mid-2022, then dropped after US President Donald Trump said the Iran war could be over soon.

Tags: buying and selling rateDollardollar interbankDollar rate in interbank marketInterbank closingInterbank closing rates for dollarINTERBANK MARKET RATESInterbank market rates for dollarInterbank rateinterbank rupee rateinterbank rupee rates
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