Rupee edges up against US dollar in interbank market

ISLAMABAD: The Pakistani rupee gained slightly against the US dollar in the interbank market on Tuesday, according to the State Bank of Pakistan (SBP).

The local currency appreciated by three paisa, closing at Rs281.72 against the greenback.

In the open market, the US dollar was bought at Rs282.60 and sold at Rs283.40.

Interbank closing #ExchangeRate for today
https://t.co/34ivS6dHtr
#sbpexchangerate pic.twitter.com/aoFiQ9w598

— SBP (@StateBank_Pak) September 2, 2025

Among other currencies, the Saudi riyal stood at Rs75.07, the Bahraini dinar at Rs747.26, the Omani rial at Rs731.76, the Kuwaiti dinar at Rs920.98, and the Qatari riyal at Rs77.28 in interbank trading.

Market dealers said the minor uptick came amid stable inflows and limited demand for the greenback, though they noted the rupee remains under pressure from external financing needs.

Gold holds firm at historic high

Meanwhile, gold prices in Pakistan steadied on Tuesday, holding firm after setting a fresh record in the previous session.

In the local market, the price of gold per tola remained unchanged at Rs370,700, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The price of 10 grammes also stood still at Rs317,815.

Internationally, bullion held its ground at $3,480 per ounce, including a $20 premium, while silver in Pakistan was flat at Rs4,303.

The calm followed a hectic Monday, when gold jumped by Rs3,300 to hit an all-time high. The surge reflected global demand for safe havens as investors shifted money away from the US dollar.

PSX closes at all-time high

On the other hand, the Pakistan Stock Exchange (PSX) benchmark KSE-100 Index closed at 150,975.48 points, marking an all-time high after gaining 1,004.36 points (+0.67 per cent).

The rally extended the bullish momentum, with the index touching an intraday high of 151,065.56 points.

On the economic front, the SBP governor said the economy was positioned on a more stable footing, with growth projected between 3.25 per cent and 4.25 per cent in fiscal year 2026, according to Al Habib Capital.