RECORDER REPORT
KARACHI: The Pakistani rupee extended its marginal gains against the US dollar, appreciating 0.01percent in the interbank market on Tuesday.
The local unit closed the day at 277.37, a gain of Re0.03 against the greenback.
On Monday, the Pakistani rupee settled at 277.40 against the dollar.
Internationally, the Japanese yen climbed to fresh seven-month highs against the US dollar on Tuesday, as traders continued to unwind short positions amid growing bets of a Bank of Japan interest-rate hike while the dollar was subdued ahead of CPI data this week.
The yen strengthened to as much as 153.53 per dollar in morning trading, surpassing levels reached during Japan’s July intervention and hitting its strongest since February.
Traders and analysts said a slew of factors, including bets on a faster pace of Bank of Japan tightening, the potential for Japanese investors to repatriate their funds, unwinding carry trades and US political pressure, are now driving a sea-change for the embattled currency and turning away the bears.
The dollar index, measures the greenback against a basket of currencies, was a touch weaker at 98.83 amid yen strength.
That left the euro and sterling both 0.06percent stronger, last at USD1.1628 and USD1.3549, respectively.
Market focus now shifts to US inflation readings this week, the last set of key data releases ahead of the FOMC meeting on September 15 to 16, with traders now pricing a roughly 60percent chance of a Federal Reserve rate hike this month following Friday stronger-than-expected nonfarm payrolls report.
Oil prices hit multi-week highs on Tuesday after Houthis attacked Saudi energy facilities and Tehran threatened the United States with conomic warfare.
Brent crude futures were up 48 cents, or 0.49percent, at USD97.48 a barrel at 1311 GMT. U.S. West Texas Intermediate crude was at USD92.55 a barrel, up USD1.07, or 1.17percent.
Brent earlier rose to USD99.46, its highest since July 24, while WTI reached USD94.73, its highest since June 8.
Open-market movement
In the open market, the PKR gained 4 paise for buying and 3 paise for selling against USD, closing at 278.21 and 279.06, respectively.
Against Euro, the PKR gained 20 paise for buying and lost 5 paise for selling, closing at 322.29 and 325.23, respectively.
Against UAE Dirham, the PKR remained unchanged for both buying and selling, closing at 75.67 and 76.28, respectively.
Against Saudi Riyal, the PKR gained 2 paise for buying and lost 3 paise for selling, closing at 73.96 and 74.51, respectively.
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Open Bid Rs 278.21
Open Offer Rs 279.06
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday
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Open Bid Rs 277.37
Open Offer Rs 277.57
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RUPEE IN LAHORE: The Pakistani rupee stayed stable against the US dollar while showing slight improvement against the British pound in the local currency market on Tuesday.
Market dealers said they observed a positive trading in the rupee in early hours, but later it turned volatile. According to them, the rupee also remained mostly directionless during intraday trading. However, some interest was seen during the last session but had hardly any impact on the market sentiment, dealers reported.
At the close, the rupee’s buying rate stood unchanged at Rs 278.00 while selling value changed to Rs 280.00 from previous closing at Rs 280.50.
Against the British pound, the rupee’s buying and selling rates closed at Rs 375.30 and Rs 378.00, respectively against Monday’s value of Rs 374.50 and Rs 378.50, respectively.
Copyright Business Recorder, 2026
