RECORDER REPORT
KARACHI: The Pakistani rupee recorded marginal gain against the US dollar, appreciating 0.01% in the inter-bank market on Monday.
At close, the local currency settled at 280.22, a gain of Re0.03 against the greenback, according to the State Bank of Pakistan (SBP).
During the previous week, the Pakistani rupee posted marginal gain, appreciating by Re0.06 or 0.02% against the US dollar in the interbank market. The local unit closed at 280.25, compared to 280.31, which it had closed at the week earlier against the greenback.
Globally, the yen languished near a record low to the euro on Monday, after Bank of Japan Governor Kazuo Ueda stuck to his usual cautious rhetoric following an interest rate hike on Friday.
The Japanese currency traded near an 11-month trough versus the US dollar and just shy of a 17-month low on the Aussie.
The lack of any hawkish hints sent the yen tumbling 1.3% versus the euro, 1.4% against the greenback and 1.5% against the Aussie, even as it triggered a broad selloff in Japanese government bonds that sent the 10-year yield - which moves inversely to the price - soaring past the symbolic 2% mark to the highest since 1999.
The US dollar edged down 0.1% to 157.56 yen on Monday, but remained close to last month’s high of 157.90.
The euro eased 0.1% to 184.51 yen, staying within touching distance of Friday’s record peak at 184.75. The single currency was flat at $1.1714.
The Aussie weakened slightly to 104.20 yen, but was not far from the 104.39 yen mark reached earlier this month for the first time since July of last year. It rose 0.1% to $0.6616.
Oil prices, a key indicator of currency parity, rose on Monday after the US intercepted an oil tanker in international waters off the coast of Venezuela and tensions in Russia’s war against Ukraine remained high, with both developments raising fears of supply disruption.
Brent crude futures gained $1.31, or 2.17%, to $61.78 a barrel by 1316 GMT. US West Texas Intermediate crude rose by $1.25, or 2.2%, to $57.77.
Open-market movement
In the open market, the PKR remained unchanged buying and gained 5 paise selling against USD, closing at 280.63 and 281.25, respectively.
Against Euro, the PKR lost 37 paise for buying and 36 paise for selling, closing at 328.54 and 331.60, respectively.
Against UAE Dirham, the PKR gained 2 paise for buying and 3 paise for selling, closing at 76.60 and 77.41, respectively.
Against Saudi Riyal, the PKR gained 1 paisa for buying and lost 5 paise for selling, closing at 74.80 and 75.41, respectively.
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Open Bid Rs 280.63
Open Offer Rs 281.25
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday
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Open Bid Rs 280.22
Open Offer Rs 280.42
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RUPEE IN LAHORE: The Pakistani rupee was slightly up against the US dollar while turned mixed against the British pound, in the local currency market on Monday.
Currency dealers said that the rupee, against the greenback, showed a mixed trend in early session after the open while later, the trend continued to persist during intraday trading. However, in the last session the local currency made gains but finally ended marginally up. According to dealers, at close, the final buying and selling rate of the rupee stayed at Rs 281.00 and Rs 281.25 against Rs 281.10 and Rs 281.30 of preceding session.
The local currency, against the British unit, showed a mixed trend and the dealers quoted its buying value as Rs 377.20 against Rs 375.50 and selling as Rs 379.50 against Rs Rs377.80 of the previous session.
Copyright Business Recorder, 2025
