RECORDER REPORT
KARACHI: The Pakistani rupee saw marginal decline against the US dollar, depreciating 0.04% in the inter-bank market on Tuesday.
At close, the currency settled at 280.27, a fall of Re0.10 against the greenback.
On Monday, the rupee had closed at 280.17.
Internationally, the US dollar wallowed near a five-month trough against the euro and other major peers on Tuesday as investors grappled with the potential economic impact of growing global trade tensions.
Fears that US President Donald Trump’s aggressive tariff policies could trigger a broader economic slowdown has undermined the greenback amid a string of soggy sentiment surveys.
The US dollar index, which measures the currency against six key rivals, has dropped around 6% from the more than two-year peak of 110.17 hit in mid-January.
It was last at 103.44, struggling to make a decisive move away from a five-month low of 103.21 touched last Tuesday.
The US currency hardly got much support from retail sales data on Monday that showed a modest rebound in February after a revised 1.2% decline in January.
The Fed will also publish new economic projections, which will provide the most tangible evidence yet of how US central bankers view the likely impact of the Trump administration’s policies on the economy.
Oil prices, a key indicator of currency parity, edged higher on Tuesday, supported by instability in the Middle East as well as China’s plans for more economic stimulus, though global growth concerns, US tariffs and uncertainty over Ukraine ceasefire talks curbed gains.
Brent futures rose 36 cents, or 0.5%, to $71.43 a barrel by 0700 GMT, while US West Texas Intermediate crude futures rose 32 cents, or 0.5%, to $67.90.
Open-market movement
In the open market, the PKR lost 19 paise for buying and 9 paise for selling against USD, closing at 280.02 and 282.07, respectively.
Against Euro, the PKR lost 1.18 rupee for buying and 1.17 rupee for selling, closing at 305.40 and 308.12, respectively.
Against UAE Dirham, the PKR lost 4 paise for buying and 5 paise for selling, closing at 76.24 and 76.80, respectively.
Against Saudi Riyal, the PKR remained unchanged for buying and lost 4 paise for selling, closing at 74.72 and 75.28, respectively.
========================
Open Bid Rs 280.02
Open Offer Rs 282.07
========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday
========================
Open Bid Rs 280.26
Open Offer Rs 280.46
========================
RUPEE IN LAHORE: The Pak rupee sustained its previous position against the US while losing against the British pound.
According to local market sources, the Pak rupee closed at Rs 280 and Rs 282 against the US dollar against the previous closing of Rs 280 and Rs 282, respectively.
However, regarding the British pound, the Pak rupee witnessed a closing at Rs 363.25 and Rs 366.50 against the previous closing of Rs 362 and Rs 365.50, respectively.
Copyright Business Recorder, 2025
