RECORDER REPORT
KARACHI: Pakistani rupee declined further against the US dollar, depreciating 0.04% in the inter-bank market on Wednesday.
At close, the currency settled at 284.47, a loss of Re0.11.
On Tuesday, the currency settled at 284.36.
Internationally, the US dollar rose for a third day against the yen on Wednesday as US President Donald Trump pledged more trade-related proclamations after announcing 25% tariffs on Japan and other trade partners.
The greenback advanced against major peers on Tuesday after Trump began telling trade counterparts that sharply higher US tariffs will start on August 1, but he later said he was open to extensions if countries made proposals.
Trump said on social media that there would be announcements on Wednesday regarding “a minimum of 7 countries having to do with trade,” without specifying whether he would be announcing new deals or tariff letters.
Multiple rounds of talks have failed to result in a breakthrough between the US and Japan, where policymakers are now increasingly focused on a critical upper house election this month.
The US dollar climbed 0.2% to 146.85 yen, after touching a more than two-week high on the previous day. The euro was little changed at $1.1720.
The US dollar index, which tracks the US currency against a basket of six major peers, was steady at 97.582 after a two-day climb. Sterling traded at $1.35795, down 0.1% in early trading.
Oil prices, a key indicator of currency parity, rose on Wednesday, maintaining their highest levels since June 23, lifted by attacks on shipping in the Red Sea and a forecast for lower US oil production while uncertainty over US tariffs loomed in the background.
Brent crude futures gained 10 cents, or 0.1%, to $70.25 a barrel by 1057 GMT. US West Texas Intermediate crude was up 15 cents, or 0.2%, to $68.48 a barrel.
Open-market movement
In the open market, the PKR lost 38 paise for buying and 16 paise for selling against USD, closing at 286.00 and 287.00, respectively.
Against Euro, the PKR gained 12 paise for buying and lost 51 paise for selling, closing at 335.00 and 337.51, respectively.
Against UAE Dirham, the PKR lost 14 paise for buying and 15 paise for selling, closing at 77.86 and 78.25, respectively.
Against Saudi Riyal, the PKR lost 18 paise for buying and 15 paise for selling, closing at 76.21 and 76.55, respectively.
========================
Open Bid Rs 286.00
Open Offer Rs 287.00
========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday
========================
Open Bid Rs 284.47
Open Offer Rs 284.66
========================
RUPEE IN LAHORE: The Pak rupee remained under pressure both against the US dollar and the British pound.
According to local market sources, the Pak rupee closed at Rs 286.75 and Rs 287.00 against the US dollar compared to the previous closing of Rs 286.50 and Rs 286.85, respectively.
However, regarding the British pound, the Pak rupee witnessed a closing at Rs 390.50 and Rs 392.50 against the previous closing of Rs 389.50 and Rs 391.20 respectively.
Copyright Business Recorder, 2025
