Dollar again makes stride against rupee

ISLAMABAD: The Pakistani rupee registered losses against the US dollar during trading, depreciating 0.41percent on Tuesday.

At around 12:00 noon the rupee was hovering at Rs 299, a decrease of Rs1.87 in the inter-bank market.

On Monday, the rupee remained under pressure against the US dollar, as it settled at 297.13 in the inter-bank.

PSX opens with marginal gains

Internationally, the US dollar held close to a 10-week peak versus a basket of major peers, and near its highest since November against the yen, as Treasury yields rose made fresh post-financial crisis highs on Tuesday amid speculation US rates will be stay high for longer.

Oil prices, a key indicator of currency parity, edged lower on Tuesday as the market waited to see if Iraqi oil exports resume, which could ease the supply tightness caused by the OPEC+ cut, while a faltering Chinese economy continued to undercut the global demand outlook.