RECORDER REPORT
KARACHI: The Pakistani rupee gained against the US dollar, appreciating 0.01% in the inter-bank market on Tuesday.
At close, the local currency settled at 278.37, a gain of Re0.03 against the greenback.
On Monday, the local unit closed at 278.40.
Meanwhile, the US dollar held near a two-month high on Tuesday, firming against most major peers as Middle East uncertainty curbed risk appetite and traders ramped up bets on a Federal Reserve rate hike later this year.
Iran and Israel halted attacks on each other on Monday after an appeal from US President Donald Trump, but tensions ran high as Tehran threatened to resume strikes if Israel continued to hit Hezbollah in Lebanon.
US efforts to reach a lasting agreement with the Iranians to end their more than three-month-old war have made little headway, leaving oil prices elevated and underpinning safe-haven demand for the greenback.
The euro stood at USD1.1528, and the sterling fetched USD1.3335, both down roughly 0.05 percent so far in Asia after hitting their two-month lows in the previous session.
The risk-sensitive Australian dollar was down 0.1 percent at USD0.7039, and the New Zealand dollar traded at USD0.5804.
The Japanese yen weakened to as much as 160.295, continuing to hover around the 160 level, widely seen as a line in the sand for potential official intervention.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, was little changed at 100.03, near the two-month high of 100.21 it struck on Monday.
Oil prices fell about 4 percent on Tuesday after Iran and Israel said they had halted attacks on each other following an appeal from US President Donald Trump.
Brent futures fell USD3.40, or 3.6 percent, to USD90.85 a barrel at 10:28 a.m. EDT (1428 GMT), while U.S. West Texas Intermediate (WTI) crude slid USD3.71, or 4.1 percent, to USD87.59.
Open-market movement
In the open market, the PKR gained 3 paise for buying and 6 paise for selling against USD, closing at 278.52 and 279.41, respectively.
Against Euro, the PKR lost 98 paise for buying and 71 paise for selling, closing at 321.05 and 324.53, respectively.
Against UAE Dirham, the PKR lost 6 paise for buying and 4 paise for selling, closing at 75.69 and 76.41, respectively.
Against Saudi Riyal, the PKR lost 7 paise for buying and 2 paise for selling, closing at 74.00 and 74.62, respectively.
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Open Bid Rs 278.52
Open Offer Rs 279.41
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday
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Open Bid Rs 278.37
Open Offer Rs 278.57
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RUPEE IN LAHORE: The Pakistani rupee remained stable against the US dollar while losing strength against the British pound in the local currency market on Tuesday.
Currency dealers said the rupee performed well after the open paring fresh gains against the US dollar on reports of easing tensions in Middle East. During intraday trading the rupee came under pressure and the trend continued during the last too, resulting in loss of early gains, dealers stated. However, despite pressure the rupee ended the day with a firm note, they added.
At close of the market, the buying rate of the rupee settled at Rs 279.30 against yesterday’s value of Rs 279.00 while selling value was unchanged at Rs 281.00.
Against the British pound, the Pakistani rupee’s buying and selling rates rate closed at Rs 372.30 and Rs 376.00, respectively compared with Monday’s Rs 370.00 and Rs 375.00, respectively.
Copyright Business Recorder, 2026
