The local currency witnessed marginal increase against the previous day’s closing of Rs 277.68, as per the Forex Association of Pakistan (FAP).

The buying and selling rates of the dollar in the open market stood at Rs 278.50 and Rs 280 respectively, it added.

According to FX Street, the US dollar continued to gather strength against its rivals following Monday s bullish action, with the USD Index climbing to its highest level in nearly two weeks above 101.00 on Tuesday.

The European Commission will release the Unemployment Rate data for August during the European trading hours, it reported. Later in the day, the ADP Employment Change data for September will be featured in the US economic docket. Investors will also scrutinize comments from Federal Reserve (Fed) officials, including Fed Governor Michelle Bowman and Richmond Fed President Thomas Barkin.

The State Bank of Pakistan (SBP) said that the price of Euro decreased by Rs1.32 to close at Rs 307.31 against the last day’s closing of Rs 308.63.

The Japanese yen remained unchanged and closed at Rs1.92, whereas a decrease of Rs 1.43 was witnessed in the exchange rate of the British Pound, which traded at Rs368.96 as compared to the last day’s closing of Rs 370.39.

The exchange rates of the Emirates Dirham and Saudi Riyal decreased by 02 paisa 04 paisa to close at Rs 75.58 and Rs73.97, it revealed.