Pakistani Rupee Gains Slightly Against US Dollar

The Pakistani rupee experienced a slight increase against the US dollar, gaining 0.08% during Tuesday’s intra-day trading in the inter-bank market.

At approximately 10:03 am, the local currency was valued at 280.83 against the US dollar, reflecting an increase of Re0.24 compared to the previous day’s closing rate.

On the preceding day, Monday, the rupee concluded trading at 281.07.

The dollar saw minimal recovery from its substantial losses on Tuesday, as investors awaited further clarification regarding potential de-escalation of trade tensions between China and the United States. Treasury Secretary Scott Bessent indicated that the responsibility for initiating negotiations rested with China.

Bessent’s remarks on Monday suggested that China needed to reduce tariffs, adding to mixed signals regarding advancements in trade discussions between the world’s two leading economies.

While President Trump has asserted progress and communication with Chinese President Xi Jinping, Beijing has refuted these claims.

Oil prices, a crucial indicator for currency values, declined in early Asian trading on Tuesday. This decrease was attributed to investors reducing expectations for demand growth amid the ongoing trade conflict between the United States and China, the world’s two largest economies.

Brent crude futures decreased by 25 cents, or 0.4%, reaching $65.61 per barrel by 0024 GMT. U.S. West Texas Intermediate crude futures fell by 18 cents, or 0.3%, settling at $61.87 a barrel.

Both benchmarks experienced declines exceeding $1 on Monday.

A majority of economists surveyed by Reuters suggest that U.S. President Donald Trump’s strategy of imposing tariffs on imports carries a significant risk of triggering a global economic downturn this year.

China, facing the steepest tariffs, has retaliated with its own tariffs on U.S. imports, intensifying the trade war between the world’s top two oil-consuming nations.

This information reflects an intra-day market update.