RECORDER REPORT
KARACHI: The Pakistani rupee registered marginal gain against the US dollar, appreciating 0.02% against the US dollar on Monday.
At close, the local currency settled at 281.97, a gain of Re0.05 against the greenback.
During the previous week, the rupee depreciated against the US dollar as it lost Re0.04 or 0.01% in the inter-bank market.
The local unit closed at 282.02, against 282.06 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
Globally, the US dollar edged lower on Monday, giving back some of its gains from last week, as markets weighed the outlook for President Donald Trump’s tariff policy and its potential to constrict growth and unleash inflation.
The greenback starts the week on the back foot after Trump said late on Friday that he plans to double duties on imported steel and aluminum to 50% from Wednesday, and as Beijing hit back against accusations it violated an agreement on critical minerals shipments.
The US dollar dropped 0.3% to 143.57 yen as of 0439 GMT, giving back some of its more than 1% rally from last week.
The euro gained 0.1% to $1.1362, and sterling advanced 0.2% to $1.3485.
The Australian dollar added 0.3% to $0.6453 and the New Zealand dollar rose 0.4% to $0.5994.
The US dollar index, which measures the currency against six major peers, eased 0.1% to 99.283.
The US currency has been whipsawed for weeks by Trump’s on-again-off-again trade war, falling when a flare-up in tensions stokes worries of a potential U.S. recession.
Oil prices, a key indicator of currency parity, jumped by about 3% on Monday after producer group OPEC+ kept output increases in July at the same level as the previous two months.
Brent crude futures climbed by $2.28, or 3.63%, to $65.06 a barrel by 1118 GMT. US West Texas Intermediate crude was up $2.45, or 4.03%, at $63.24.
Both contracts lost more than 1% last week.
Open-market movement
In the open market, the PKR gained 43 paise for buying and remained unchanged for selling against USD, closing at 282.17 and 284.40, respectively.
Against Euro, the PKR lost 99.00 paisa for buying and 1.21 rupee for selling, closing at 319.97 and 324.10, respectively.
Against UAE Dirham, the PKR gained 14 paise for buying and 10 paise for selling, closing at 76.57 and 77.41, respectively.
Against Saudi Riyal, the PKR gained 17 paise for buying and 13 paise for selling, closing at 74.72 and 75.60, respectively.
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Open Bid Rs 282.17
Open Offer Rs 284.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday
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Open Bid Rs 281.97
Open Offer Rs 282.17
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RUPEE IN LAHORE: The Pak remained under pressure against the US and the British pound.
According to local market sources, the Pak rupee closed at Rs 282.75 and Rs 284.40 against the US dollar compared to the previous closing of Rs 283.50 and Rs 284.40, respectively.
However, regarding the British pound, the Pak rupee witnessed a closing at Rs 377.00 and Rs 384.10 against the previous closing of Rs 380.00 and Rs 383.10 respectively.
Copyright Business Recorder, 2025
