RECORDER REPORT
KARACHI: Pakistani rupee extended its marginal gains against the US dollar, appreciating 0.01 percent in the inter-bank market on Monday.
The local unit closed the day at 276.97, a gain of Re0.03 against the greenback.
On Friday, the Pakistani rupee settled at 277.00 against the dollar.
Globally, the US dollar held ground near its strongest level in a year and a half in early Asian trade on Monday as an escalating Middle East conflict kept investors wary ahead of key US inflation data later this week that will influence monetary policy.
The dollar index, which measures the greenback’s strength against a basket of six currencies, was slightly down at 102.14 but remained not far from the 18-month peak it scaled last week. Trading was confined to a tight range with Japanese markets shut for a holiday, thinning liquidity across the region.
Against the yen, the US dollar was down 0.14 percent at 158.160 yen. The Australian dollar and its kiwi counterpart were both roughly flat at USD0.6988 and USD0.5614, respectively.
Beyond the geopolitical backdrop, the market’s focus turns to Wednesday’s US consumer price index report, one of the last major economic releases before the Federal Reserve’s late-October meeting on interest rates.
Data last week showed US consumer sentiment slumped further in early October as the rising cost of living because of the Middle East conflict soured households’ views of the economy.
The Fed raised rates last month for the first time since 2023 to rein in inflation, with markets keeping a close watch on economic data to gauge whether policymakers may move again. Traders are pricing in an 81 percent chance of the Fed standing pat this month, up from 51 percent a month earlier, CME FedWatch tool showed.
Oil prices, a key indicator of currency parity, rose to near two-week highs on Monday as attacks on Saudi Arabia overshadowed possible further supplies to the market after US President Donald Trump hailed fresh Russian diesel exports and a Russia-Ukraine energy ceasefire.
Rebounding from earlier losses, Brent crude futures rose USD2.07, or 2 percent, to USD106.79 a barrel by 1321 GMT, their highest since September 29. US West Texas Intermediate crude was at USD93.54 a barrel, up USD1.69, or 1.8 percent.
Open-market movement
In the open market, the PKR gained 4 paise for buying and lost 14 paise for selling against USD, closing at 277.48 and 278.83, respectively.
Against Euro, the PKR gained 57 paise for buying and 58 paise for selling, closing at 310.11 and 313.10, respectively.
Against UAE Dirham, the PKR gained 4 paise for both buying and selling, closing at 75.53 and 76.12, respectively.
Against Saudi Riyal, the PKR gained 6 paise for buying and 1 paisa for selling, closing at 73.83 and 74.40, respectively.
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Open Bid Rs 277.48
Open Offer Rs 278.83
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday
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Open Bid Rs 276.97
Open Offer Rs 277.17
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RUPEE IN LAHORE: The Pakistani rupee weakened slightly against the US dollar while remaining stable against the British pound in the local currency market on Monday.
Currency dealers said trading began on a positive note for the rupee, with the trend continuing during the morning session. However, sentiment weakened during intraday trading and remained subdued until the close of the market, they added.
At the close of trading, the rupee’s buying and selling rates against the US dollar were quoted at Rs 277.80 and Rs279.20, respectively, compared with the previous closing rates of Rs277.00 and Rs279.50.
Against the British pound, the rupee’s buying and selling rates closed at Rs366.50 and Rs368.80, respectively, compared with the previous closing rates of Rs366.00 and Rs370.00.
Copyright Business Recorder, 2026
