The Pakistani rupee saw a slight gain against the US dollar in the interbank market on Tuesday, rising by 0.01 percent. By the close of trading, the rupee settled at Rs 280.57, up by 3 paise compared to Monday’s closing rate of Rs 280.60.
Meanwhile, the US dollar remained under pressure globally, staying close to a three-year low against the euro and a six-month low against the Japanese yen. Investors remained cautious due to shifting US trade policies, particularly after President Donald Trump’s unpredictable tariff decisions. Over the weekend, the US eased some tariffs on Chinese electronics, but Trump’s later remarks hinted that the relief might not last.
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The dollar index, which measures the greenback against major currencies, stood at 99.864, not far from its recent three-year low. The index has dropped over 4% this month, marking its worst monthly decline since November 2022. Treasury yields also rose, reflecting ongoing uncertainty in financial markets. Traders are now expecting an 86-basis-point cut in US interest rates this year, adding to the dollar’s volatility.
