RECORDER REPORT
KARACHI: The Pakistani rupee registered marginal improvement against the US dollar in the inter-bank market on Tuesday.
At close, the rupee settled at 281.86, a gain of Re0.01 against the greenback. This was rupee’s thirteenth successive gain against the greenback.
On Monday, the local unit closed the session at 281.87.
Internationally, the US dollar surrendered gains in early trading in Asia on Tuesday after US President Donald Trump said he was removing Federal Reserve Governor Lisa Cook from her position for allegedly committing mortgage fraud.
The dollar index fell 0.3 percent to 98.187 after Trump made the announcement in a letter to Cook that he posted on social media.
The pullback came after the US currency had registered its biggest daily gain of the month on Monday.
Trump’s unprecedented move marks a sharp escalation of the president’s battle against the Fed, which he blames for not lowering interest rates quickly, and intensifies investor worries about the US central bank’s independence.
The yield on the two-year US Treasury bond fell 3.6 basis points to 3.694 percent after the move, while the yield on long-dated 30-year bonds rose 3.3 basis points to 4.922 percent.
Against the yen, the dollar was traded at 147.18 yen , 0.4 percent stronger compared to late US levels.
The Australian dollar fetched $0.64915 , up 0.15 percent in early trade, ahead of the release of the Reserve Bank of Australia’s minutes for its August meeting. The kiwi traded 0.1% stronger at $0.5856.
Oil prices, a key indicator of currency parity, fell by about 2 percent on Tuesday a day after surging nearly 2 percent, as investors watched developments in the war in Ukraine and assessed potential disruption to Russian fuel supplies.
Brent crude was down $1.28, or 1.9%, at $67.52 a barrel by 11:19 am EDT, a day after hitting its highest since early August. West Texas Intermediate (WTI) crude lost $1.30, or about 2 percent, to $63.50.
Open-market movement
In the open market, the PKR gained 9 paise for buying and 10 paise for selling against USD, closing at 283.07 and 283.90, respectively.
Against Euro, the PKR gained 2.18 rupees for buying and 2.12 rupees for selling, closing at 328.31 and 330.33, respectively.
Against UAE Dirham, the PKR gained 3 paise for buying and remained unchanged for selling, closing at 77.05 and 77.30, respectively.
Against Saudi Riyal, the PKR gained 2 paise for buying and remained unchanged for selling, closing at 75.34 and 75.60, respectively.
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Open Bid Rs 283.07
Open Offer Rs 283.90
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday
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Open Bid Rs 281.86
Open Offer Rs 282.06
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RUPEE IN LAHORE: The Pakistani rupee remained stable against the US dollar while gaining against the British pound.
According to local market sources, the Pakistani rupee closed at Rs 283.10 and Rs 284.90 against the US dollar compared to the previous closing of Rs 283.20 and Rs 284.00, respectively.
However, regarding the British pound, the Pakistani rupee closed at Rs 378.80 and Rs 382.00 against the previous closing of Rs 381.85 and Rs 383.80, respectively.
Copyright Business Recorder, 2025
