RECORDER REPORT
KARACHI: The Pakistani rupee registered marginal gain against the US dollar in the inter-bank market on Wednesday.
At close, the local currency settled at 281.05, up by Re0.01 against the US dollar, according to the State Bank of Pakistan (SBP).
The local unit closed at 281.06 on Tuesday.
Internationally, the US dollar weakened in early Asian trade on Wednesday, edging back from its highest level against the Japanese yen in a week, as a tumble in gold prices triggered a rebalancing across various safe-haven assets.
Gold fell as much as 2.9 percent to a low of USD4,003.39 amid a broad decline in precious metals, retracing a rally that has seen the yellow metal’s biggest yearly gains in almost half a century.
The US dollar was last 0.2 percent weaker at 151.67 yen, after the release of data showing Japanese exports rose in September for the first time in five months.
The Japanese yen has lost 2.5 percent this month, its biggest monthly decline against the greenback since July, as Sanae Takaichi jostled to become Japan’s prime minister and investors anticipated expansionary fiscal policy and a testy relationship with the country’s central bank.
The dollar index, which measures the greenback’s strength against a basket of six currencies, was last trading unchanged at 98.888, slipping 0.1% after three consecutive days of gains.
Oil prices, a key indicator of currency parity, pushed higher for a second day on Wednesday, rising by about 2%, buoyed by hopes of progress for a US trade deal with China and India.
Brent crude futures rose $1.19, or 1.9%, to $62.51 a barrel as of 1313 GMT, while US West Texas Intermediate crude futures climbed USD1.24, or 2.2 percent, to USD58.48.
Open-market movement
In the open market, the PKR lost 2 paise for buying and remained unchanged for selling against USD, closing at 281.59 and 282.10, respectively.
Against Euro, the PKR gained 37 paise for buying and 66 paise for selling, closing at 326.58 and 330.00, respectively.
Against UAE Dirham, the PKR remained unchanged for both buying and selling, closing at 76.79 and 77.55, respectively.
Against Saudi Riyal, the PKR lost 1 paisa for buying and remained unchanged for selling, closing at 75.06 and 75.65, respectively.
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Open Bid Rs 281.59
Open Offer Rs 282.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday
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Open Bid Rs 281.05
Open Offer Rs 281.25
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RUPEE IN LAHORE: The Pakistani rupee slipped against the US dollar on buying side while stayed steady on the selling side. However, it showed improvement against the British pound in the local currency market here on Wednesday.
Local currency dealers said the rupee, after showing positive signs in early trading, moved up and down through the day to finally close lower against the US dollar. At close of the market, its buying and selling rate stayed at Rs282.00 and Rs 282.10, respectively, compared with its previous day’s closing at Rs281.80 and Rs 282.10, respectively.
The Pak rupee, however, soared against the British pound. At close, dealers stated its buying and selling rate as Rs 374.60 and Rs 370.50, respectively, against Rs 376.50 and Rs 379.8o of the previous day, respectively.
Copyright Business Recorder, 2025
