Pakistani rupee sees 18th successive gain against US dollar

Rupee's Performance Against US Dollar Since 04 March 2025

The Pakistani rupee maintained its positive momentum against the US dollar, appreciating 0.01% in the inter-bank market on Tuesday.

At close, the rupee settled at 281.72, a gain of Re0.03 against the greenback. This was the rupee’s 18th successive gain against the greenback.

Since August 6, 2025, the rupee has gained Re0.95 against the US dollar.

On Monday, the local unit closed at 281.75.

Internationally, the US dollar made a limp recovery in early Asian trade after days of selling, ahead of the US markets reopening later on Tuesday after the Labour Day holiday.

The dollar index was last up 0.1% at 97.709, having touched its lowest on Monday since 28 July after five consecutive days of loss, as investors sought alternative havens such as gold where prices traded just shy of record levels.

Traders have sold the greenback as US President Donald Trump’s attacks on the Federal Reserve, including his decision to remove Governor Lisa Cook, raise fear that the White House is undermining the central bank’s independence at a time when the case to begin cutting interest rates is far from clear.

Bullion was on track to notch a sixth day of gain after reaching its highest price since 21 April on Monday. It was last up 0.2% at $3,482.55 a troy ounce, whereas silver retreated 1.2% after reaching a 14-year high.

Against the yen, the dollar was 0.1% stronger at 147.33 yen, remaining in the trading channel it has sat in since the start of August.

US economic data for August will be in focus later this week as market watchers try to ascertain the extent to which Trump’s policies are affecting industrial activity and the labour market.

Oil prices, a key indicator of currency parity, edged up on Tuesday ahead of an OPEC+ meeting on Sunday, while expectations mounted that an escalation of the conflict between Russia and Ukraine would disrupt supply.

Brent crude was up 31 cents, or around 0.45%, at $68.46 a barrel by 1317 GMT, having risen just over 2% earlier.

WTI futures did not settle on Monday due to the Labour Day holiday in the US.

Inter-bank market rates for dollar on Tuesday

BID Rs 281.72

OFFER Rs 281.92

Open-market movement

In the open market, the PKR gained 25 paise for buying and 17 paise for selling against USD, closing at 282.50 and 283.40, respectively.

Against Euro, the PKR gained 2.68 rupees for buying and 2.50 rupees for selling, closing at 327.93 and 330.05, respectively.

Against UAE Dirham, the PKR gained 4 paise for buying and 5 paise for selling, closing at 76.92 and 77.15, respectively.

Against Saudi Riyal, the PKR gained 4 paise for buying and 5 paise for selling, closing at 75.22 and 75.45, respectively.

Open-market rates for dollar on Tuesday

BID Rs 282.50

OFFER Rs 283.40