The Pakistani rupee remained largely stable against the dollar on Tuesday, while showing slight fluctuations against other major currencies.
Major commodities such as oil are primarily traded in US dollars, while several economies, including Saudi Arabia, continue to peg their currencies to the greenback.
According to the National Bank of Pakistan (NBP) rate sheet, the rupee closed almost unchanged against the US dollar, with the currency selling at Rs282.50 and buying at Rs282.00, compared to Rs282.45/281.95 a day earlier. This reflects only a 0.02% change.
The euro slipped to Rs329.68 (selling) and Rs329.10 (buying), down 0.29% from Monday’s levels of Rs330.63/330.04. The British pound also eased, trading at Rs381.76 and Rs381.09, marking a 0.31% decline.
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The Canadian dollar saw a minor uptick to Rs204.79/204.43, rising by around 0.07%, while the Australian dollar dropped to Rs183.46/183.14, a 0.37% decline compared to Monday.
In the Gulf region, the UAE dirham inched up to Rs77.54/77.40 from Rs77.43/77.29, while the Saudi riyal rose to Rs75.37/75.24 from Rs75.27/75.14. The Qatari riyal softened slightly to Rs77.98/77.84, down from Rs78.36/78.22.
The Swiss franc held almost flat at Rs350.26/349.65 versus Rs350.41/349.79 a day earlier. The Kuwaiti dinar, meanwhile, edged higher to Rs925.15 for selling and Rs923.52 for buying, compared to Rs924.85/923.22 previously.
At the same time, the Pakistan Stock Exchange extended its bullish momentum, with the KSE-100 Index crossing the 149,500 mark today.
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