Rupee Edges Higher as Dollar Holds Firm
The Pakistani rupee strengthened a little against the US dollar on Tuesday. It gained 0.04% during early inter-bank trading.
At 10:30 am, the rupee traded at 281.05, up Re0.11 from Monday’s close of 281.16. The mild gain reflected cautious optimism among investors.
Analysts said steady demand and reduced volatility supported the rupee. However, they expect the currency to stay within a tight band due to import pressures and global uncertainty.
Therefore, even a small improvement showed resilience in Pakistan’s currency market.
Dollar Holds Firm
Globally, the US dollar held steady. Softer remarks from US President Donald Trump about tariffs on China eased market tension.
His willingness to meet Chinese President Xi Jinping boosted hopes of easing trade friction. Traders welcomed this shift after recent turbulence.
Earlier, Trump had announced 100% tariffs on Chinese exports. However, he later softened his stance. US Treasury Secretary Scott Bessent confirmed the two leaders might meet in South Korea later this month.
As a result, investors regained confidence in the dollar. The dollar index rose 0.04% to 99.34. The euro traded at $1.1566, while the pound slipped to $1.3328.
The yen weakened 0.2% to 152.57 per dollar. The Australian dollar remained stable at $0.6516, and the New Zealand dollar touched a six-month low at $0.5714.
In addition, analysts said calm global trade could benefit emerging market currencies. A stable dollar and firm oil prices may support Pakistan’s exchange rate in the near term.
