RECORDER REPORT
KARACHI: The Pakistani rupee registered marginal gain against the US dollar, appreciating 0.01 percent in the inter-bank market on Thursday.
At close, the local currency settled at 281.03, up by Re0.02 against the US dollar, according to the State Bank of Pakistan (SBP).
The local unit closed at 281.05 on Wednesday.
Globally, the US dollar drifted higher against its major peers on Thursday as traders waited on the delayed release of US consumer inflation data on Friday, while digesting tariff threats between Washington and Beijing.
The yen weakened to a one-week low against the dollar as the market awaited details of a big stimulus package from new Prime Minister Sanae Takaichi, widely viewed as favouring fiscal and monetary easing.
Sterling remained under pressure after British data on Wednesday showed consumer inflation held steady at 3.8 percent last month, defying economists’ estimates for it to accelerate.
Traders rushed to price a 75 percent chance of the Bank of England cutting rates by its December meeting - up sharply from a 46 percent probability before the data was published - although those odds had eased back to 61 percent on Thursday.
The US dollar index, which measures the currency against the yen, sterling, euro and three other peers, edged up 0.05 percent to 98.979 as of 0050 GMT.
Oil prices, a key indicator of currency parity, surged around 5 percent to a two-week high on Thursday after the US imposed sanctions on major Russian suppliers Rosneft, opens new tab and Lukoil, opens new tab over Russia’s war in Ukraine.
Sanctions against Russia could reduce the supply of oil available to global markets as Russia was the world’s second-biggest crude producer in 2024 after the US, according to US energy data.
Open-market movement
In the open market, the PKR lost 1 paisa for buying and gained 5 paise for selling against USD, closing at 281.60 and 282.05, respectively.
Against Euro, the PKR gained 20 paise for buying and 28 paise for selling, closing at 326.38 and 329.72, 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 remained unchanged for buying and lost 1 paisa for selling, closing at 75.06 and 75.66, respectively.
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Open Bid Rs 281.60
Open Offer Rs 282.05
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday
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Open Bid Rs 281.03
Open Offer Rs 281.22
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RUPEE IN LAHORE: The Pakistani rupee improved its value against the US dollar on buying side while stayed slightly down on the selling side. However, it showed improvement against the British pound in the local currency market here on Thursday.
Local currency dealers said the rupee, after showing negative signs in early trading, moved in a narrow band later in the day, and finally closed on mixed note. At close of the market, its buying and selling rate was quoted as Rs 281-50 and Rs 282.50, respectively against previous closing at Rs282.00 and Rs 282.10, respectively.
The buying value of Pak rupee, however, was down against the British pound at Rs 375.50 and selling rate moved up at the close at Rs 378.50 against previous closing of Rs 374.60 and Rs 370.50, respectively.
Copyright Business Recorder, 2025
