RECORDER REPORT
KARACHI: The Pakistani rupee posted marginal gain against the US dollar in the inter-bank market on Monday.
At close, the local currency settled at 281.16, up by Re0.01 against the previous session’s close of 281.17, according to State Bank of Pakistan (SBP) data.
During the previous week, the Pakistani rupee posted marginal gain for another week as it appreciated by Re0.09 or 0.03% against the US dollar in the inter-bank market.
Internationally, the US dollar recovered from a selloff in early trade on Monday as investors hoped Washington may temper its latest escalation of the trade war with Beijing, while political developments in France and Japan undermined the euro and the yen.
The dollar index, which measures the greenback’s strength against a basket of six currencies, edged higher to 99.002, retracing some losses sustained after US President Trump announced 100% tariffs on China.
That revived fears of Trump’s Liberation Day rollout of sweeping tariffs in April, sparking a selloff in stocks and cryptocurrencies on Friday.
Against the yen, the dollar fetched 151.985 yen, up 0.5% as markets assessed the path ahead for new Liberal Democratic Party leader Sanae Takaichi after Komeito quit the ruling coalition on Friday, dealing a blow to her hopes to become the first female prime minister of the world’s fourth largest economy.
The euro stood at $1.1609, down 0.1%, after the French presidency announced Prime Minister Sebastien Lecornu’s new cabinet line-up on Sunday, reappointing Roland Lescure, a close ally of Emmanuel Macron, as finance minister.
Oil prices, a key indicator of currency parity, rose on Monday after hitting five-month lows in the previous session, as investors focused on potential talks between the presidents of the United States and China that could ease trade tensions between the world’s two largest economies.
Brent crude futures rose 65 cents, or 1%, to $63.38 a barrel by 1313 GMT. US West Texas Intermediate crude was at $59.54 a barrel, up 64 cents, or 1.1%. Both contracts lost around 4% on Friday to settle at their lowest since May.
Open-market movement
In the open market, the PKR gained 7 paise for buying and remained unchanged for selling against USD, closing at 281.63 and 282.20, respectively.
Against Euro, the PKR lost 68 paise for buying and 87 paise for selling, closing at 326.42 and 330.27, respectively.
Against UAE Dirham, the PKR gained 2 paise for buying and remained unchanged for selling, closing at 76.78 and 77.52, respectively.
Against Saudi Riyal, the PKR gained 1 paisa for buying and lost 2 paise for selling, closing at 75.03 and 75.65, respectively.
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Open Bid Rs 281.63
Open Offer Rs 282.20
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday
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Open Bid Rs 281.16
Open Offer Rs 281.36
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RUPEE IN LAHORE: The Pakistani rupee soared against the US dollar on buying side and its selling value stayed pegged to its previous level. The British pound showed stability at the close while its selling rate improved on first business day of the week here in the local in the local currency market.
According to local currency dealers, the dollar opened with a positive note and later throughout the day showed a volatile movement to finally close up at 282.00 as compared to its previous closing at Rs 282.10 on the buying side while on the selling side, the local currency stayed stable at 282.20 as against its previous trading at 282.20.
The local currency also remained stable against its previous closing at 376.00 against the British pound, however, it showed upward movement to close higher and the dealers quoted its selling rate at 380.00 compared with previous close of 380.70.
Copyright Business Recorder, 2025
