RECORDER REPORT

KARACHI: The Pakistani rupee continued its marginal gain against the US dollar in the inter-bank market on Tuesday.

The local unit closed the day at 276.71, a gain of Re0.01 against the greenback.

On Monday, the rupee had closed at 276.72 against the dollar.

Globally, the US dollar wavered alongside oil prices on Tuesday on hopes for a diplomatic breakthrough between the US and Iran, while the Aussie was steady ahead of the Reserve Bank of Australia’s rate decision.

Falling energy prices helped ease inflation concerns and dragged longer-dated US Treasury yields lower.

The yield on the benchmark US 10-year Treasury note was steady at 4.9145percent, while that on the 30-year bond was also flat at 5.2868percent. Both had dipped to their lowest levels in nearly two months in the previous session.

The dollar index, which measures the currency against a basket of currencies including the yen and the euro, last traded a shade weaker at 101.76 after dropping to a one-month low on Monday.

Meanwhile, an AI-driven stock market slump showed little sign of slowing down, hurting risk sentiment and lending some support to the dollar.

Tensions around US midterm elections also loom large, helping to prop up the dollar as a safe-haven play.

The euro was a touch higher at USD1.1185 on the back of dollar weakness.

The Japanese yen was flat at 157.915 per dollar during a local holiday.

Oil prices, a key indicator of currency parity, rebounded on Tuesday after a steep selloff in the previous session, as an Iranian official said Tehran and Washington remained far from a deal to end the war and the US struck Iran’s Qeshm Island.

Brent crude futures rose USD1.36, or 1.3percent, to USD106.13 a barrel by 1043 GMT, while US West Texas Intermediate crude was up USD1.45, or 1.5percent, at USD97.91.

Open-market movement

In the open market, the PKR gained 3 paise for buying and lost 13 paise for selling against USD, closing at 277.38 and 278.67, respectively.

Against Euro, the PKR gained 33 paise for buying and 17 paise for selling, closing at 309.97 and 312.78, respectively.

Against UAE Dirham, the PKR gained 1 paisa for buying and lost 1 paisa for selling, closing at 75.60 and 76.18, respectively.

Against Saudi Riyal, the PKR gained 2 paise for buying and 1 paisa for selling, closing at 73.93 and 74.45, respectively.

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Open Bid Rs 277.38

Open Offer Rs 278.67

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday

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Open Bid Rs 276.71

Open Offer Rs 276.91

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RUPEE IN LAHORE: The Pakistani rupee remained steady against the US dollar while ending mixed against the British pound in the local currency market on Tuesday.

At the close of the market, the rupee’s buying and selling value against the US unit stood unchanged to its previous day’s level at Rs 277.00 and Rs 279.00, respectively.

Against the British pound, the rupee’s respective buying and selling rates changed to Rs 371.00 and Rs 374.50 from Rs 372.00 and Rs 374.30 of Monday.

Copyright Business Recorder, 2026