Intraday trade: PKR gains 17 paisa against USD 

KARACHI: The Pakistani rupee posted a slight gain against the US dollar as trading resumed on Tuesday following a four-day break for Eid.

The local currency appreciated by 0.06 per cent during early hours, trading at Rs282.00 against the greenback by 11:30 am, up by 17 paisa from the previous close of Rs282.17 recorded on June 5. 

The local currency has weakened by Rs3.83, or 1.36 per cent, since the start of the fiscal year, and by Rs3.62, or 1.28 per cent, since January. 

Currency markets remained relatively quiet on Tuesday as global investors awaited key US inflation data due later in the week. Meanwhile, trade talks between the United States and China continued for a second day in London, with top officials attempting to ease tensions that have extended beyond tariffs into critical minerals and technology restrictions. 

Despite some upbeat signals from both sides, the absence of concrete progress kept currency movements in check. The US dollar index rose 0.2 per cent to 99.189 but stayed close to six-week lows, reflecting investor caution amid persistent trade risks. The euro slipped 0.17 per cent to $1.14, while the pound stood at $1.3543. 

In the previous session on June 5, the rupee had strengthened slightly by 4.97 paisa, closing at Rs282.17 per dollar in the interbank market. The day’s trading range saw bids touch a high of Rs282.40 and a low of Rs282.15. Exchange companies were quoting the dollar at Rs282.50 for buying and Rs284.40 for selling. 

Against other major currencies, the rupee showed mixed performance in the previous trading session. 

On June 5, the Pakistani rupee recorded mixed movement against major foreign currencies. It appreciated slightly against the UAE dirham, closing at 76.83 after gaining 1.35 paisa, and also edged up by 1.12 paisa against the Saudi riyal to settle at 75.23. 

However, the rupee lost ground against several other currencies. It weakened by 3.57 paisa against the Chinese yuan to close at 39.28, and dropped by 99.10 paisa versus the British pound, finishing at 382.71.  

The local unit also slipped against the Japanese yen, falling by 1.08 paisa to 1.9688. Against the euro, the rupee declined by 74.77 paisa to end the session at 322.03, while it posted a sharper loss of Rs1.40 against the Swiss franc, which closed at 344.09. 

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