RECORDER REPORT
KARACHI: The Pakistani rupee extended its marginal gains against the US dollar in the interbank market on Tuesday.
The local unit closed the day at 277.21, a gain of Re0.01 against the greenback.
On Monday, the Pakistani rupee settled at 277.22 against the dollar.
Globally, the Japanese yen was under pressure from a firm US dollar on Tuesday as traders wagered on policymakers in Japan struggling to keep up with a hawkish turn by global central banks, leaving the country’s interest rates at a wide gap with major peers.
Moves were contained thanks to a holiday in Japan and because of the risk of intervention, after the Nikkei newspaper reported Japan checked dollar/yen rates on Friday. Such a move is often a precursor to stepping into the market.
After drifting lower on Monday, the yen traded at 157.33 versus the dollar early on Tuesday, while broader financial markets were buoyed by falling oil prices.
Other currency pairs were mostly steady, with the euro at USD1.1467, though cryptocurrencies have rallied in the past day to lift bitcoin to an eight-month high above USD87,000.
Markets are pricing about a 30percent chance that the BOJ hikes its benchmark short-term rate to 1.5percent in October and a roughly 55percent chance that the Fed will lift its funds rate window by 25 basis points to 4percent to 4.25percent.
The Aussie dollar hovered at USD0.7120. Sterling traded around USD1.3372.
The New Zealand dollar was pinned near multi-month lows at USD0.5708 since Kiwi rates, sitting at 2.75percent, are much lower than peers.
Oil prices, a key indicator of currency parity, fell to a two-week low on Tuesday as prospects for Gulf supplies improved, with Iran signaling it could reopen the Strait of Hormuz within seven days and Saudi Arabia set to resume exports from its Red Sea port of Yanbu.
The Brent crude futures November contract was down USD2.11, or 2.1percent, to USD98.23 a barrel at 1151 GMT.
The WTI October contract, which expires on Tuesday, lost USD2.48, or 2.59percent, to USD93.30 a barrel.
The more actively traded November contract was down USD2.36, or 2.55percent, at USD90.01 a barrel.
Open-market movement
In the open market, the PKR gained 4.00 paisa for buying and lost 19.00 paisa for selling against USD, closing at 278.19 and 279.26, respectively.
Against Euro, the PKR gained 22.00 paisa for buying and 30.00 paisa for selling, closing at 318.63 and 321.63, respectively.
Against UAE Dirham, the PKR lost 2.00 paisa for buying and remained unchanged for selling, closing at 75.70 and 76.27, respectively.
Against Saudi Riyal, the PKR lost 2.00 paisa for buying and gained 1.00 paisa for selling, closing at 74.01 and 74.51, respectively.
========================
Open Bid Rs 278.19
Open Offer Rs 279.26
========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday
========================
Open Bid Rs 277.21
Open Offer Rs 277.41
========================
RUPEE IN LAHORE: The Pakistani rupee gained against the US dollar and British pound in the local currency market on Tuesday.
Local currency dealers said the rupee gained strength against the US dollar, posting gains in early session. A positive trend was also observed during the intraday trading, dealers stated. The local currency, however, came under pressure in second half of the concluding session, resulting in loss of early gains. However, the rupee was still trading in the positive territory when the market closed.
At the final count, the rupee’s buying and selling rates against the US dollar improved to Rs 278.00 and Rs 280.25 from Rs 278.50 and Rs 280.50 of the previous session.
Against the British pound, the rupee’s buying and selling rates changed to Rs 369.54 and Rs 375.00 from Rs372.00 and Rs375.50, respectively.
Copyright Business Recorder, 2026
