USD Exchange Rate: Rupee drops further against US Dollar

The Pakistani rupee (PKR) witnessed slight fluctuations in exchange rates on Tuesday, weakening marginally against major foreign currencies, including the US Dollar, Euro, and British Pound.

In the interbank market, the rupee depreciated by 9.69 paisa or 0.03%, settling at Rs277.95 per US Dollar, compared to the previous day's closing of Rs277.86.

During the day, the PKR reached an intraday high of Rs278.10 and a low of Rs278.00, reflecting minor volatility.

In the open market, exchange companies quoted the US Dollar at Rs276.40 for buying and Rs278.90 for selling.

The currency showed a narrow spread between its buying and selling rates, with the selling rate recorded at Rs278.25 and the buying rate at Rs277.75.

Other major currencies also saw slight changes. The Euro (EUR) was quoted at Rs294.92 for selling and Rs294.39 for buying.

The British Pound (GBP) had a selling rate of Rs353.02 and a buying rate of Rs352.39.

The Swiss Franc (CHF) traded at Rs315.14 for selling and Rs314.57 for buying.

The Canadian Dollar (CAD) and Australian Dollar (AUD) also saw modest variations, with the CAD selling at Rs198.61 and buying at Rs198.25, and the AUD priced at Rs181.46 for selling and Rs181.13 for buying.

In the Gulf region, the U.A.E. Dirham (AED) traded at Rs76.29 for selling and Rs76.16 for buying

Meanwhile the Saudi Riyal (SAR) stood at Rs74.14 for selling and Rs74.01 for buying.

The Qatari Riyal (QAR) had a selling rate of Rs76.33 and a buying rate of Rs76.19.

The Kuwaiti Dinar (KWD) remained the most expensive currency, with a selling rate of Rs906.96 and a buying rate of Rs905.33.

On the other side, Gold prices in both the global and local markets have seen a significant increase today, marking the second consecutive day of price hikes.

In the local bullion markets, the price of 24-carat gold per tola increased by Rs3,600, reaching Rs273,500. The price of gold per 10 grams also saw a rise of Rs3,086, reaching Rs234,482.

Meanwhile, in the international bullion market, the price of gold per ounce rose by $36, reaching $2,623.

Despite the sharp rise in gold prices, the price of silver remained unchanged.

The price of silver per tola remained steady at Rs3,250, and the price of silver per 10 grams also stayed the same at Rs2,786.