The Pakistani rupee showed a mild upward trend against the US dollar in early interbank trading on Monday, reflecting relative stability in the domestic forex market despite global currency fluctuations.
At 9:50am, the local unit was recorded at Rs280.76 against the dollar, gaining Re0.26 or 0.09% from the previous close.
According to the State Bank of Pakistan (SBP), the rupee had already posted a modest improvement of Re0.08 during the last week, closing at Rs281.02 in the interbank market. Analysts say this gradual appreciation points to consistent inflows and cautious demand from importers.
Globally, the US dollar maintained strength against major peers, hitting a more than two-week high versus the Japanese yen at 153.12, amid a busy week of trade diplomacy and central bank decisions.
The dollar’s resilience comes ahead of US President Donald Trump’s visits to Japan and China, where he is scheduled to meet Prime Minister Sanae Takaichi and President Xi Jinping to discuss the framework of a new trade deal.
Meanwhile, market expectations are rising that the US Federal Reserve will announce a rate cut later this week following soft inflation data, a move that could influence global currency trends in the coming days.
In the commodities market, Brent crude gained 0.7% to $66.40 a barrel, while US West Texas Intermediate (WTI) rose 0.75% to $61.96, supported by easing trade tensions and ongoing sanctions on Russia.
Traders in Karachi said the local rupee’s slight appreciation reflected “a mix of external stability and controlled demand pressure,” though they cautioned that “any spike in oil import bills could reverse short-term gains.”
