RECORDER REPORT
KARACHI: The Pakistani rupee extended its marginal gains against the US dollar on Monday.
The local unit closed the day at 277.40, a gain of Re0.01 against the greenback.
On Friday, the Pakistani rupee settled at 277.41 against the dollar.
Internationally, the US dollar was on shaky ground on Monday, despite a ramp-up in US rate hike bets as Middle East tensions raised the prospect of broader inflationary pressures that could force global central banks to tighten policy in tandem.
A shift in sentiment towards the Japanese yen and worries about ever-growing US debt and policy uncertainties also weighed on the greenback.
Moves in currencies were largely subdued in early Asia trade with US markets closed for a holiday, though the dollar struggled to sustain a brief lift it received from Friday’s blowout US jobs report.
The euro was up marginally at USD1.1618, while sterling was little changed at USD1.3519. Against a basket of currencies, the dollar fell 0.07 percent to 99.09, not far from its recent low of 98.558.
Traders moved to price in a roughly 57 percent chance the Federal Reserve will hike rates this month in the wake of the nonfarm payrolls release, with much now depending on Friday’s inflation data.
Oil prices were near six-week highs on Monday, creeping closer to USD100 a barrel, as tit-for-tat strikes between the US and Iran on vessels sailing in the Strait of Hormuz and other areas kept crude oil flows in the Middle East low.
Brent crude futures rose USD1.19, or 1.2 percent to USD97.47 a barrel by 1214 GMT, having earlier hit their highest point since July 24 at USD97.93.
US West Texas Intermediate crude also hovered near a recent six-week high at USD92.26 a barrel, up 78 cents.
Open-market movement
In the open market, the PKR gained 4 paise for buying and 6 paise for selling against USD, closing at 278.25 and 279.09, respectively.
Against Euro, the PKR gained 4 paise for buying and 14 paise for selling, closing at 322.49 and 325.18, respectively.
Against UAE Dirham, the PKR gained 1 paisa for both buying and selling, closing at 75.67 and 76.28, respectively.
Against Saudi Riyal, the PKR lost 3 paise for buying and gained 1 paisa for selling, closing at 73.98 and 74.48, respectively.
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Open Bid Rs 278.25
Open Offer Rs 279.09
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday
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Open Bid Rs 277.40
Open Offer Rs 277.60
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RUPEE IN LAHORE: The Pakistani rupee edged up against the US dollar and the British pound in the local currency market on Monday.
According to market dealers, trading in the rupee commenced with a positive note and later it further strengthened position against the US unit. Traders stated that the local currency also showed strength during the intraday trading, posting gains. However, the rupee traded under pressure during the last session, but interest returned in second half of the session which helped it make a positive closing.
At the final count, the rupee’s buying and selling rates closed at Rs 278.00 and Rs 280.50, respectively against previous closing at Rs 279.50 and Rs 280.70, respectively.
Against the British pound, the rupee’s buying rate moved to Rs 374.50 from Rs 376.60 while selling value stood at Rs378.50, unchanged from preceding session.
Copyright Business Recorder, 2026
