Rupee Steady but Global Peers See Mixed Trade

The Pakistani rupee held firm against the US dollar on Tuesday, with the greenback selling at Rs 283.70 in the open market and trading at Rs 282.9 in interbank dealings.

While the rupee showed resilience, several international currencies recorded slight shifts. The British pound traded at Rs 381.30 for buying and Rs 383.30 for selling, while the euro ranged between Rs 328.50 and Rs 330.30. The Canadian dollar moved higher, trading at Rs 205 to Rs 210, while the Australian dollar was quoted between Rs 184.10 and Rs 189.75.

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In the Gulf region, currencies pegged to the dollar remained steady. The Saudi riyal exchanged at Rs 76 and the UAE dirham at Rs 77.60. The Qatari riyal traded slightly higher at Rs 77.24 to Rs 77.94, while the Omani riyal and Kuwaiti dinar held strong at Rs 738.70 and Rs 926.35 respectively.

Market observers said the rupee’s stability was underpinned by improved supply and demand dynamics in the forex market. However, they noted that currency values could shift in coming weeks depending on global oil prices, import pressures, and monetary policy decisions in the US.