RECORDER REPORT
KARACHI: The Pakistani rupee registered slight decline against the US dollar, depreciating 0.03% in the inter-bank market on Monday.
At close, the local currency settled at 282.06, a loss of Re0.09 against the greenback.
During the previous week, rupee depreciated against the US dollar as it lost Re0.31 or 0.11% in the inter-bank market.
The local unit closed at 281.97, against 281.66 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
Internationally, the euro and US dollar rose against the safe-haven yen and Swiss franc on Monday after President Donald Trump set a July 9 deadline for a trade deal with the European Union, rescinding his threat of a 50% tariff from June 1.
Trump announced the decision to reporters on Sunday following a call with European Commission President Ursula von der Leyen, who asked for more time to reach an agreement. July 9 is the end of the 90-day pause on Trump’s “Liberation Day” levies on the EU and most other trade partners.
The de-escalation just two days after Trump issued the threat is a stark reminder of how quickly and suddenly US trade policy can turn, even as it encouraged investors that deals can be struck and calmed worries about a global downturn.
The euro rose 0.3% to 162.60 yen, and added 0.2% against the dollar to reach the highest since April 30 at $1.1382.
The US dollar rebounded as much as 0.4% to 143.085 yen, after diving 1% on Friday.
Oil prices, a key indicator of currency parity, recorded limited gains on Monday after US President Donald Trump extended a deadline for trade talks with the European Union, easing concerns about US tariffs on the bloc that could hurt the global economy.
Brent crude futures rose 18 cents, or 0.28%, to $64.96 a barrel by 0653 GMT while US West Texas Intermediate crude was up 17 cents, or 0.28%, at $61.7 a barrel.
Open-market movement
In the open market, the PKR lost 11 paise for buying and 14 paise for selling against USD, closing at 283.01 and 284.29, respectively.
Against Euro, the PKR lost 1.62 rupee for buying and 2.13 rupees for selling, closing at 322.14 and 324.99, respectively.
Against UAE Dirham, the PKR remained unchanged for both buying and selling, closing at 77.14 and 77.55, respectively.
Against Saudi Riyal, the PKR gained 3 paise for buying and remained unchanged for selling, closing at 75.45 and 75.85, respectively.
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Open Bid Rs 283.01
Open Offer Rs 284.29
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday
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Open Bid Rs 282.06
Open Offer Rs 282.25
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RUPEE IN LAHORE: RUPEE IN LAHORE: The Pak remained stable against the US dollar while losing against the British pound.
According to local market sources, the Pak rupee closed at Rs 283.50 and Rs 284.30 against the US dollar compared to the previous closing of Rs 283.50 and Rs 284.15, respectively.
However, regarding the British pound, the Pak rupee witnessed a closing at Rs 384.25 and Rs 387.10 against the previous closing of Rs 381.35 and Rs 383.95 respectively.
Copyright Business Recorder, 2025
