RECORDER REPORT
KARACHI: The Pakistani rupee registered marginal improvement against the US dollar in the inter-bank market on Tuesday.
At close, the local currency settled at 280.30, a gain of Re0.01 against the greenback.
On Monday, the local unit closed at 280.31.
Internationally, the US dollar sagged to near a two-month low at the start of the Asian trading session on Tuesday as markets awaited the release of a slew of economic data, including the delayed November US jobs report.
The dollar index, which measures the currency’s strength against a basket of six key rivals, was down 0.2% at 98.261, approaching the lowest levels since October 17.
The Bureau of Labour Statistics will release its long-awaited combined employment reports for October and November later, following delays to data collection during the longest US government shutdown in history. Meanwhile, a raft of preliminary manufacturing indicators is also due for release.
Fed funds futures are pricing an implied 75.6% probability of a hold in rates at the US central bank’s next meeting on 28 January, unchanged from a day earlier, according to the CME Group’s FedWatch tool.
Against the yen, the US dollar eased 0.1% to 155.07 yen, as traders braced for the BOJ’s decision on Friday.
Oil prices, a key indicator of currency parity, fell below $60 a barrel on Tuesday, the lowest since May, as prospects for a Russia-Ukraine peace deal appeared to strengthen, raising expectations sanctions could be eased.
Brent crude futures fell $1.03, or around 1.7%, to $59.53 a barrel at 1340 GMT, while US West Texas Intermediate crude was trading at $55.76, down $1.06, or 1.9%.
Open-market movement
In the open market, the PKR gained 9 paise for buying and remained unchanged for selling against USD, closing at 280.71 and 281.35, respectively.
Against Euro, the PKR lost 54 paise for buying and 48 paise for selling, closing at 329.34 and 332.17, respectively.
Against UAE Dirham, the PKR remained unchanged for both buying and selling, closing at 76.56 and 77.33, respectively.
Against Saudi Riyal, the PKR remained unchanged for both buying and selling, closing at 74.78 and 75.39, respectively.
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Open Bid Rs 280.71
Open Offer Rs 281.35
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday
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Open Bid Rs 280.30
Open Offer Rs 280.50
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RUPEE IN LAHORE: LAHORE: The Pakistani rupee drifted lower against the US dollar while slightly improved against the British pound, in the local currency market on Tuesday.
Currency dealers said there was little change in the trading pattern as rupee continued showing positive signs with modest trading activity from early to intraday, after a positive opening. However, they added, in last session, activity slowed down and finally the rupee closed lower. According to dealers, final buying and selling rate of the rupee stayed at Rs 281.70 and Rs 281.90, respectively against Rs 281.00 and Rs 281.35, respectively of the previous session.
The buying value of the rupee, versus the British pound slightly improved to Rs 374.00 from Rs 374.50 while selling was little down to Rs 378.00 from Rs 377.50.
Copyright Business Recorder, 2025
