Rupee strengthens against US Dollar – Why global currencies slip?
File photo
File photo
KARACHI (Web Desk): The Pakistani Rupee recorded a slight gain of 03 paisa against the US Dollar in interbank trading on Monday.

The local currency closed at Rs281.07 compared to the previous day’s Rs281.10.

According to the Forex Association of Pakistan (FAP), the Dollar’s buying and selling rates in the open market were noted at Rs282.55 and Rs282.75 respectively.

The Euro also witnessed a decline of Rs1.28, ending at Rs327.81 compared to the previous day’s Rs329.09, as reported by the State Bank of Pakistan (SBP).

Similarly, the Japanese Yen lost 01 paisa to settle at Rs1.86, while the British Pound fell by Rs0.28, closing at Rs377.08 compared to Rs377.36 a day earlier.

Read more: Gold tumbles to Rs444,900 per tola amid $17 fall in global market

The exchange rates of the Emirates Dirham and Saudi Riyal also slipped slightly, each down by 01 paisa to close at Rs76.52 and Rs74.94 respectively.

Experts say the Rupee’s minor appreciation reflects a stable trend in Pakistan’s foreign exchange market, supported by steady remittances and moderate import demand. However, global currency fluctuations and oil price shifts continue to shape the Rupee’s movement. Market analysts suggest that if the current momentum sustains, the Rupee may remain stable in the coming weeks, provided no major external shocks occur.