Dollar rate today: Pakistani rupee edges higher against USD in early trade

The Pakistani rupee (PKR) made a mild recovery against the US dollar (USD) during early trade on Tuesday, continuing its recent pattern of quiet but steady improvement in the inter-bank market.

The local currency opened stronger at Rs280.67 against the greenback, gaining 23 paisa from Monday’s close of Rs280.90. Dealers described the movement as a “measured uptick,” suggesting the market remains stable, supported by improving investor sentiment and a slight cooling of import demand.

Internationally, the US dollar held firm near a three-month high, with investors remaining cautious as the Federal Reserve appeared divided on future interest rate cuts. This uncertainty has kept global currencies from making sharp moves.

Meanwhile, the Japanese yen continued to trade weak at around 154.38 per dollar, close to its eight-month low, sparking speculation about possible intervention by Tokyo to stabilise the currency.

Yearly dollar performance

So far in the current fiscal year, the rupee has appreciated by Rs2.86 or around 1 percent against the US dollar. However, on a calendar-year basis, it remains down by Rs2.35 or 0.84 percent.

Previous session

In Monday’s session, the rupee also posted gains against several major currencies. It strengthened against the British pound, euro, and Swiss franc, while showing minor losses against the Japanese yen. In the open market, the dollar was quoted at Rs281.05 for buying and Rs281.95 for selling.