RECORDER REPORT
KARACHI: The Pakistani rupee reported marginal gain against the US dollar in the inter-bank market on Tuesday.
At close, the local currency settled at 280.21, a gain of Re0.01 against the greenback.
On Monday, the local unit closed at 280.22.
Globally, the US dollar remained under pressure, with the euro slightly firmer at $1.1774 and sterling rising to a two-and-a-half-month high at $1.348.
The dollar index, which measures the US currency against six rivals, eased a bit to 98.112 on Tuesday after dropping 0.48% on Monday. The index was on course for a 1.3% decline for the month and a 9.5% drop for the year, its steepest annual fall since 2017.
Strategists at MUFG said the drop for the dollar this year was unlikely to be a one-off with scope for further gains ahead.
Oil prices, a key indicator of currency parity, were little changed on Tuesday as potential sales of Venezuelan crude seized by the United States were countered by heightened supply disruption fears after Ukrainian attacks on Russian vessels and piers.
Brent crude futures rose 6 cents to $62.13 a barrel by 1221 GMT. US West Texas Intermediate (WTI) crude was up 2 cents at $58.03.
Open-market movement
In the open market, the PKR remained unchanged for both buying and selling against USD, closing at 280.63 and 281.25, respectively.
Against Euro, the PKR lost 1.57 rupee for buying and 1.53 rupee for selling, closing at 330.11 and 333.13, respectively.
Against UAE Dirham, the PKR lost 1 paisa for both buying and selling, closing at 76.61 and 77.42, respectively.
Against Saudi Riyal, the PKR remained unchanged for buying and gained 1 paisa for selling, closing at 74.80 and 75.40, 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 Tuesday
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Open Bid Rs 280.21
Open Offer Rs 280.41
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RUPEE IN LAHORE: The Pakistani rupee posted gains against the US dollar while it tumbled against the British pound, in the local currency market on Tuesday.
Currency dealers said that the rupee, against the greenback, depicted an upward movement soon after the open, and the trend continued to persist till midday. However, they added, in late trading it showed a volatile moment to finally end with a positive note. According to dealers, at close, the final buying rate of the rupee was up by Re 1.00 at Rs 280.00 as compared to previous day’s Rs 281 while selling value remained unchanged to Monday’s level at Rs 281.25.
The local currency, against the British unit, depreciated and its final buying and selling rate was quoted as Rs 378.30 and Rs 382.00 against Rs 377.20 and Rs 379.50 of Tuesday.
Copyright Business Recorder, 2025
