RECORDER REPORT
KARACHI: The Pakistani rupee saw slight gain against the US dollar in the inter-bank market on Monday.
At close, the currency settled at 281.25, a gain of Re0.01 against the greenback.
During the previous week, the Pakistan rupee posted marginal gain as it appreciated by Re0.11 or 0.04 percent against the US dollar in the inter-bank market. The local unit closed at 281.26, against 281.37 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
Internationally, the yen tumbled against the US dollar by the most in five months in early Monday trading after Sanae Takaichi won the LDP leadership election over the weekend. This set the country on course for more expansionary fiscal policy and complicated the task facing the Bank of Japan.
The yen sank 1.6 percent to 149.81 yen on the US dollar, its biggest one-day slide since May 12, wiping out gains it made in the past week as markets resumed trading in Asia.
With many markets in Asia closed for holidays, the dollar index was last down 0.1 percent at 98.029, extending recent losses.
The dollar has weakened steadily against its major peers this year as traders attempt to gauge the economic impact of US President Donald Trump’s policies and attacks on the independence of the Federal Reserve.
Market activity signals that easing at the Fed’s October meeting is a near-certainty, with Fed funds futures implying a 94.6 percent probability of a 25-basis-point rate cut, according to the CME Group’s FedWatch tool.
Speculators are also pricing a 70% chance that the government shutdown lasts beyond October 15, according to contracts on the betting website Polymarket.
Oil prices, a key indicator of currency parity, rose by about 1% on Monday after OPEC+’s planned production increase for November was more modest than expected, tempering some concerns about supply additions, though a soft outlook for demand is likely to cap near-term gains.
Brent crude futures climbed 71 cents, or 1.1 percent, to USD65.24 a barrel by 1316 GMT, while US West Texas Intermediate crude was at USD61.47, up 59 cents, or 1 percent.
Open-market movement
In the open market, the PKR lost 2 paise for buying and remained unchanged for selling against USD, closing at 281.85 and 282.30, respectively.
Against Euro, the PKR gained 1.02 rupee for buying and 66 paise for selling, closing at 329.21 and 332.86, respectively.
Against UAE Dirham, the PKR gained 5 paise for buying and 6 paise for selling, closing at 76.76 and 77.50, respectively.
Against Saudi Riyal, the PKR remained unchanged for buying and gained 2 paise for selling, closing at 75.02 and 75.65, respectively.
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Open Bid Rs 281.85
Open Offer Rs 282.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday
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Open Bid Rs 281.25
Open Offer Rs 281.45
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RUPEE IN LAHORE: The Pakistani rupee stayed put in the local currency market against the US dollar while improved its value slightly in comparison to the British pound here in the local currency market on first working day of the week.
According to local currency dealers, the Pak rupee remained stable at Rs 282.20 on buying and Rs 282.30 on the selling side against its previous closing. However, the local currency depicted some improvement on buying and selling sides at Rs 379.00 and 382.50 versus British pound against its last Friday’s closing rates of 378.80 and Rs 382.00, respectively.
Copyright Business Recorder, 2025
