RECORDER REPORT
KARACHI: The Pakistani rupee posted marginal gain against the US dollar, appreciating 0.01% in the inter-bank market on Monday.
At close, the local currency settled at 279.92, a gain of Re0.03 against the greenback, according to the State Bank of Pakistan (SBP).
During the previous week, the Pakistani rupee posted a marginal gain, appreciating by Re0.07 or 0.03% against the US dollar in the interbank market. The local unit closed at 279.95, compared to 280.02, which it had closed at the week before against the greenback.
Pakistan’s current account posted a deficit of $244 million in December 2025. The deficit followed a surplus of $98 million recorded in November 2025, which was originally reported to be at $100 million, and a surplus of $454 million in December 2024.
Pakistan’s Real Effective Exchange Rate (REER), a measure of the value of a currency against a weighted average of several foreign currencies, decreased as it clocked in at 103.73 in December 2025, down from 104.88 (revised) in November 2025.
Internationally, the US dollar fell on Monday as investors, unnerved by US President Donald Trump’s latest tariff threats against Europe over Greenland, piled into the safe-haven yen and Swiss franc, in a broad risk-averse move across markets.
Trump said over the weekend he would impose an additional 10% import tariff from February 1 on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and Britain, until the United States is allowed to buy Greenland.
Major European Union states decried the tariff threats over Greenland as blackmail on Sunday, with France proposing to respond with a range of previously untested economic countermeasures.
In the foreign exchange market, the initial knee-jerk reaction in early Asia trade was to sell the euro and sterling, in a move that pushed them to a seven-week low and one-month trough of $1.1572 and $1.3321, respectively.
However, the two currencies bounced from their lows and it was the dollar that came under pressure as the trading day got underway, as investors assessed the longer-term implications of Trump’s latest move on the greenback’s standing.
Investors had dumped the dollar in the wake of last April’s “Liberation Day” announcement when Trump unveiled sweeping tariffs on the world, triggering a crisis of confidence in US assets.
The dollar index eased slightly to 99.18.
Oil prices, a key indicator of currency parity, fell on Monday as civil unrest in Iran subsided, reducing the likelihood of a U.S. attack that could disrupt supply from the major producer, while the market also tracks the escalating stand-off over Greenland.
Brent crude was trading at $63.79 a barrel at 1239 GMT, down 40 cents or 0.62%.
Open-market movement
In the open market, the PKR gained 1 paisa for buying and lost 18 paise for selling against USD, closing at 280.37 and 281.18, respectively.
Against Euro, the PKR lost 33 paise for buying and 25 paise for selling, closing at 325.91 and 329.04, respectively.
Against UAE Dirham, the PKR lost 2 paise for buying and 1 paisa for selling, closing at 76.55 and 77.30, respectively.
Against Saudi Riyal, the PKR gained 1 paisa for buying and lost 1 paisa for selling, closing at 74.83 and 75.45, respectively.
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Open Bid Rs 280.37
Open Offer Rs 281.18
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday
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Open Bid Rs 279.92
Open Offer Rs 280.12
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RUPEE IN LAHORE: The Pakistani rupee remained slightly weak against the US dollar while marginally improved against the British pound in the local currency market on Monday.
According to currency dealers, the rupee opened on a positive note and advanced in early session. The upward trend continued to persist until intraday, but later the market turned volatile to finally end weaker. Dealers stated that at final count the buying rate of the rupee settled at Rs 280.35 against Rs 280.20 of the previous session while selling value stayed at 280.95 against Rs 281.00, showing a fractional downward change.
The local unit, however, depicted a marginal improvement on the buying counters against the British pound, closing at Rs 375.25 against Rs 375.50 of Friday while selling value stayed unchanged at Rs 379.00.
Copyright Business Recorder, 2026
