The Pakistani rupee appreciated against the US dollar as trading resumed on Tuesday following a four-day Eid holiday.
As per media reports, the local currency appreciated by 0.06 per cent during early hours, trading at Rs282.00 against the greenback by 11:30 am, up by 17 paisa from the previous close of Rs282.17 recorded on June 5.
In the previous session on June 5, the rupee had strengthened slightly by 4.97 paisa, closing at Rs282.17 per dollar in the interbank market. The day’s trading range saw bids touch a high of Rs282.40 and a low of Rs282.15. Exchange companies were quoting the dollar at Rs 282.50 for buying and Rs 284.40 for selling.
However, the rupee lost ground against several other currencies. It weakened by 3.57 paisa against the Chinese yuan to close at 39.28, and dropped by 99.10 paisa versus the British pound, finishing at 382.71.
Internationally, the US dollar strengthened on Tuesday as Washington and Beijing remained locked in trade talks, leaving investors on edge and hesitant to place major bets while looking ahead to the US inflation report later in the week.
