RECORDER REPORT
KARACHI: The Pakistani rupee posted a marginal gain against the US dollar during trading in the inter-bank market on Tuesday.
At close, the local currency settled at 281.15, up by Re0.01 against the US dollar.
On Monday, the local unit closed at 281.16.
Internationally, the US dollar held steady on Tuesday as US President Donald Trump’s watered-down rhetoric against tariffs on China and a potential meeting with his Chinese counterpart raised hopes of de-escalation in tensions between the two economic heavyweights.
Currency markets were calmer in early Asian trade after a chaotic Friday session when Trump abruptly announced additional levies of 100% on China’s US-bound exports, only to later sound more conciliatory over the weekend.
US Treasury Secretary Scott Bessent also said on Monday that Trump remains on track to meet Chinese leader Xi Jinping in South Korea in late October.
All that breathed new life into the dollar, which in turn kept the euro below the USD1.16 level to trade at USD1.1566.
Sterling eased 0.06 percent to USD1.3328, while the New Zealand dollar fell anew to hit a six-month low of USD0.57145.
Against a basket of currencies, the dollar ticked 0.04 percent higher to 99.34. The Aussie was little changed at USD0.6516, while the yen fell roughly 0.2 percent to 152.57 per dollar.
Oil prices, a key indicator of currency parity, fell by more than 2 percent on Tuesday as the International Energy Agency warned of a huge supply glut in 2026, and as trade tensions persisted between the US and China, the world’s two biggest economies.
Brent crude futures fell USD1.38, or 2.2 percent, to USD61.94 a barrel by 11:47 a.m. ET (15:47 GMT), while U.S. West Texas Intermediate crude was down 2.1 percent, or $1.24, at $58.27. Both contracts were at a five-month low.
Open-market movement
In the open market, the PKR gained 2 paisa for buying and remained unchanged for selling against USD, closing at 281.61 and 282.20, respectively.
Against Euro, the PKR gained 90 paisa for buying and 1.29 rupee for selling, closing at 325.52 and 328.98, respectively.
Against UAE Dirham, the PKR gained 1 paisa for buying and lost 2 paisa for selling, closing at 76.77 and 77.54, respectively.
Against Saudi Riyal, the PKR remained unchanged for buying and lost 1 paisa for selling, closing at 75.03 and 75.66, respectively.
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Open Bid Rs 281.61
Open Offer Rs 282.20
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday
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Open Bid Rs 281.15
Open Offer Rs 281.35
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RUPEE IN LAHORE: LAHORE: The Pakistani Rupee remained stable against the US dollar both on buying side and its selling side while showed improvement in comparison to British pound in the local currency market on Tuesday.
According to local currency dealers, the dollar after opening in the morning showed volatility till the midday trading and finally finished at its previous day’s buying and selling rates of Rs 282.00 and Rs 282.20, respectively. The local currency, however, improved its value against the British pound and the dealers quoted its buying and selling rates as Rs 373.50 and Rs 379.00 compared with its previous closing value of Rs 376.00 and Rs 380.00.
Copyright Business Recorder, 2025
