RECORDER REPORT
KARACHI: The Pakistani rupee posted marginal gain, appreciating 0.01 percent against the US dollar in the inter-bank market on Monday.
At close, the local currency settled at 278.22, a gain of Re0.03 against the greenback.
On Friday, the local unit closed at 278.25.
Meanwhile, the dollar was firm on Monday as uncertainty clouded a tentative US-Iran peace deal following threats from President Donald Trump to restart the war in the ?Middle East and Tehran’s announcement it had closed the Strait of Hormuz.
The pound was 0.24 percent weaker at USD 1.32055, while the euro softened 0.1 percent to USD 1.1462. The Australian dollar was last down 0.19 percent at USD 0.70035, while the New Zealand dollar last bought USD 0.573.
The Japanese yen slipped to 161.53 per dollar, hovering near a two-year low reached last week. A break beyond 161.96 would take the yen to its ?weakest level since 1986.
Oil ?prices dropped on Monday after US Vice President JD Vance said progress had been made in talks ?with Iran and that the Strait of Hormuz was open.
High-ranking US and Iranian officials wrapped up their first round of talks in Switzerland on Monday, mediators said. The discussions began on Sunday under the terms of a memorandum of understanding reached last week to extend a tenuous ceasefire from April for at least another 60 days.
Brent crude was down USD 1.74, or 2.16 percent, at USD 78.83 a barrel by 1304 GMT. Prices had climbed to USD 82.30 at the start of trading because of threats from US President Donald Trump to restart the war on Iran, as well as an announcement from Tehran that it had again ?closed the Strait of Hormuz.
Open-market movement
In the open market, the PKR gained 12 paise for buying and 8 paise for selling against USD, closing at 278.67 and 279.46, respectively.
Against Euro, the PKR gained 36 paise for buying and 26 paise for selling, closing at 319.37 and 322.88, respectively.
Against UAE Dirham, the PKR gained 7 paisa for buying and 5 paise for selling, closing at 75.92 and 76.55, respectively.
Against Saudi Riyal, the PKR gained 6 paise for buying and 2 paise for selling, closing at 74.28 and 74.87, respectively.
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Open Bid Rs 278.67
Open Offer Rs 279.46
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday
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Open Bid Rs 278.22
Open Offer Rs 278.42
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RUPEE IN LAHORE: The Pakistani rupee weakened against the US dollar and the British pound in the local currency market on first working day of the week.
According to currency dealers, trading in the rupee remained volatile against the US dollar amid dull activity. Dealers, however, were unable to describe any specific reason for the erratic movement. Dealers said there was lack of interest in the market that kept the local currency subdued against the greenback. The local currency also moved up and down during the last session to finally finish with a weak note.
At the close, the buying and selling rates of the rupee settled at Rs 279.50 and Rs 282.50, respectively compared with preceding session’s value of Rs 279.00 and Rs 280.80, respectively.
Against the British pound, the buying and selling value of the rupee ended at Rs 369.50 and Rs 372.80, respectively against Rs 367.50 and Rs 375.00, respectively.
Copyright Business Recorder, 2026
