RECORDER REPORT
KARACHI: The Pakistani rupee extended its marginal gains against the US dollar in the inter-bank market on Monday.
The local unit closed the day at 277.15, a gain of Re0.01 against the greenback.
During the previous week, the rupee closed at 277.16 against the greenback, a gain of Re0.09 from 277.25 it had closed at a week earlier.
Internationally, the US dollar inched higher to hold near a two-month high on Monday, as the US-Iran standoff continued to push up oil prices while investors looked ahead to a data-packed week for more clues on inflation and central banks’ moves.
The euro and sterling were both 0.1 percent weaker against the dollar, last at USD1.1379 and USD1.3232, respectively, hovering near multi-month lows against the greenback.
The dollar index, which measures the US currency against a basket of peers, was a touch higher at 101.15 and on track for a 1.7 percent gain in September, its best month since June.
The market’s focus is set to turn to US data releases as the week unfolds, with the PCE Index on Wednesday and non-farm payrolls on Friday both expected to be consistent with further policy tightening.
Currently, markets are seeing a 65 percent chance of a rate hike from the Fed when the central bank meets next at the end of October, according to CME Group’s FedWatch tool.
Oil prices, a key indicator of currency parity, rose about 2 percent on Monday after US President Donald Trump rejected a peace deal from Iran to resolve their conflict and reopen the Strait of Hormuz.
Brent futures were up USD1.68, or 1.6 percent, at USD106 barrel by 1320 GMT, after hitting their highest since September 15 earlier in the session. US West Texas Intermediate crude was at USD94.10 a barrel, up USD1.69, or 1.8 percent.
Open-market movement
In the open market, the PKR lost 5 paise for buying and 3 paise for selling against USD, closing at 278.17 and 279.23, respectively.
Against Euro, the PKR gained 16 paise for buying and 13 paise for selling, closing at 316.27 and 319.36, respectively.
Against UAE Dirham, the PKR gained 2 paise for buying and lost 1 paisa for selling, closing at 75.70 and 76.30, respectively.
Against Saudi Riyal, the PKR lost 1 paisa for buying and 2 paise for selling, closing at 74.03 and 74.54, respectively.
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Open Bid Rs 278.17
Open Offer Rs 279.23
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday
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Open Bid Rs 277.15
Open Offer Rs 277.35
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RUPEE IN LAHORE: The Pakistani rupee weakened against the US dollar while turning mixed versus the British pound in the local currency market on first business day of the week.
Currency dealers said the rupee opened on a weak note against the US dollar and then showed a fragile movement in early session and intraday trading. During the last session, the local currency largely remained volatile amid low trading activity, dealers stated. The rupee was also trading in negative territory against the US unit when the market closed.
At the close, the rupee’s buying and selling rates against the US unit finished at Rs 279.40 and Rs 280.50, respectively against previous closing at Rs 278.50 and Rs 280.25.
Against the British unit, the rupee’s buying and selling rates changed to Rs 369.00 and Rs 371.80 from Rs 366.00 and Rs 374.00.
Copyright Business Recorder, 2026
