The Pakistani rupee gained three paisa against the US dollar in the interbank market on Tuesday, closing at Rs276.87, as the local currency continued its marginal recovery against the greenback.
According to interbank market data, the rupee appreciated by 0.01% compared with Monday’s closing rate of Rs276.90. The dollar’s buying rate stood at Rs276.87, while its selling rate was recorded at Rs277.07.
The local currency also strengthened against the dollar in the open market, gaining five paisa on the buying side and one paisa on the selling side. The dollar closed at Rs277.52 for buying and Rs278.63 for selling.
However, the rupee recorded mixed movements against other major currencies. Against the euro, it lost eight paisa on the buying side and 21 paisa on the selling side, with the European currency closing at Rs310.89 and Rs313.89, respectively.
The rupee remained unchanged against the UAE dirham, with buying and selling rates at Rs75.60 and Rs76.20, respectively. Against the Saudi riyal, the local currency remained stable on the buying side at Rs73.92 but lost two paisa on the selling side to close at Rs74.49.
In international markets, the US dollar traded unevenly against major currencies on Tuesday as a modest improvement in investor confidence supported higher-yielding currencies, while political uncertainty in Europe continued to influence market sentiment.
The euro traded at $1.1216, while the British pound rose 0.1% to $1.3308. The Australian dollar and New Zealand dollar each gained 0.1%, reaching $0.6986 and $0.5668, respectively. Against the Japanese yen, the dollar remained flat at 158.56 yen.
The US dollar index, which measures the greenback against a basket of six major currencies, rose 0.2% to 101.98 on Monday, ending a two-day losing streak.
