RECORDER REPORT
KARACHI: The Pakistani rupee posted marginal decline against the US dollar, depreciating by 0.04% during trading in the inter-bank market on Monday.
At close, the local currency settled at 281.07, down by Re0.10 against the previous day close.
On Friday, the rupee had closed at 280.97 against the greenback.
During the previous week, the Pakistani rupee depreciated further against the US dollar in the inter-bank market as it lost Re0.25 or 0.09%.
Internationally, the dollar made a steady start on Monday as investors prepared for a week packed with economic data that may give a first glimpse of whether U.S. President Donald Trump’s trade war is hitting home.
At 143.57 yen and $1.1360 per euro the greenback has, for now, found a footing, while staying on course for its largest monthly fall in nearly 2-1/2 years as Trump has rattled confidence in the dependability of U.S. assets.
It is down more than 4% on both the euro and the yen through April, though bounced at the end of last week on an apparent conciliatory shift in the tone of U.S.-China relations.
Last week both sides seemed to pull back from the precipice, with the Trump administration signalling openness to reducing tariffs and China exempting some imports from its 125% levies.
Yet where Trump insists there has been progress, and that he has spoken with President Xi Jinping, Beijing has denied trade talks are occurring and on Sunday Treasury Secretary Scott Bessent did not say that tariff talks were under way.
Oil prices, a key indicator of currency parity, were stable on Monday as investors weighed up uncertainty over trade talks between the U.S. and China, clouding the outlook for global growth and fuel demand, as well as the prospect of OPEC+ raising supply.
Brent crude futures were down 15 cents, or 0.22%, at $66.72 a barrel, as of 1204 GMT. U.S. West Texas Intermediate crude shed 16 cents, or 0.25%, to $62.86 a barrel.
Brent futures rose marginally in the previous two sessions, but nonetheless marked a week-on-week decrease of over 1% on Friday on concerns about the impact of tariffs on the global economy.
The U.S.-China trade war is dominating investor sentiment in moving oil prices, said analyst John Evans of brokerage PVM, superseding nuclear talks between the U.S. and Iran and discord within the OPEC+ coalition.
Open-market movement
In the open market, the PKR lost 15 paise for buying and 6 paise for selling against USD, closing at 281.04 and 282.78, respectively.
Against Euro, the PKR lost 25 paise for buying and 9 paise for selling, closing at 317.85 and 320.94, respectively.
Against UAE Dirham, the PKR lost 15 paise for buying and 14 paise for selling, closing at 76.52 and 77.24, respectively.
Against Saudi Riyal, the PKR gained 10 paise for buying and 16 paise for selling, closing at 74.94 and 75.60, respectively.
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Open Bid Rs 281.04
Open Offer Rs 282.78
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday
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Open Bid Rs 281.06
Open Offer Rs 281.26
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RUPEE IN LAHORE: The Pak rupee remained stable against the US dollar while facing pressure against the British pound.
According to local market sources, the Pak rupee closed at Rs 280.8w
5 and Rs 282.75 against the US dollar compared to the previous closing of Rs 280.75 and Rs 282.75, respectively.
However, regarding the British pound, the Pak rupee witnessed a closing at Rs 373.00 and Rs 376.70 against the previous closing of Rs 372.85 and Rs 376.55, respectively.
Copyright Business Recorder, 2025
