RECORDER REPORT
KARACHI: The Pakistani rupee recorded marginal improvement against the US dollar in the inter-bank market on Monday.
At close, the local currency settled at 280.16, a gain of Re0.01 against the greenback.
During the previous week, the Pakistan rupee posted marginal gain as it appreciated by Re0.08 or 0.03% against the US dollar in the inter-bank market.
The local unit closed at 280.17, against 280.25 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
Internationally, the Japanese yen recovered some ground on Monday following a steep drop at the end of last week as markets weighed the timing of more interest rate hikes in Japan and the possibility of intervention in thin end-of-year trading.
Bank of Japan policymakers debated the need to continue raising rates, a summary of opinions at their policy meeting in December showed on Monday.
The euro was supported after US President Donald Trump signalled optimism in talks to reach a peace deal to end the war in Ukraine.
Japan has a free hand in dealing with excessive moves in the yen, Finance Minister Satsuki Katayama said last week.
Those intervention warnings have helped keep a lid on dollar-yen positions, but pessimism about Japan’s currency is showing up in other foreign exchange crosses, said Bart Wakabayashi, Tokyo branch manager at State Street.
The yen strengthened 0.3% against the greenback to 156.13 per dollar after a 0.5% slide on Friday.
The dollar index, which measures the greenback against a basket of currencies, fell 0.1% to 97.96. The euro advanced 0.1% to $1.1780.
Oil prices, a key indicator of currency parity, rose by more than $1 on Monday as investors weighed talks between the US and Ukrainian presidents on a possible deal to end the war in Ukraine against potential oil supply disruption in the Middle East.
Brent crude futures rose $1.27, or 2.1%, to $61.91 a barrel by 1200 GMT while US West Texas Intermediate crude was up $1.29, or 2.3%, at $58.03.
Open-market movement
In the open market, the PKR gained 1 paisa for buying and remained unchanged for selling against USD, closing at 280.62 and 281.20, respectively.
Against Euro, the PKR gained 2 paise for buying and 21 paise for selling, closing at 329.85 and 332.86, respectively.
Against UAE Dirham, the PKR gained 2 paise for buying and remained unchanged for selling, closing at 76.52 and 77.34, respectively.
Against Saudi Riyal, the PKR gained 3 paise for buying and remained unchanged for selling, closing at 74.78 and 75.39, respectively.
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Open Bid Rs 280.62
Open Offer Rs 281.20
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday
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Open Bid Rs 280.16
Open Offer Rs 280.36
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RUPEE IN LAHORE: The Pakistani rupee slightly edged up against the US dollar while went down marginally against the British pound, amid subdued trading activity in the local currency market on Monday.
Currency dealers said the rupee opened on a firm note against the ever favourite greenback and traded within a narrow range throughout the session due to slow market activity. Although the local currency faced some pressure in the in early session, it managed to recover and close slightly higher by the end of trading.
According to dealers, the rupee’s buying rate closed at Rs 280.70 against Rs 280.90 of the preceding closing session, and selling value settled at Rs 281.20, unchanged from the previous closing.
The rupee, however, showed slight depreciation against the British pound. Its final buying rate settled at Rs 378.50 against Rs 378.10, while the selling rate closed at its previous level of Rs 382.00.
Copyright Business Recorder, 2025
