Karachi: The Pakistani rupee registered marginal improvement against the US dollar, appreciating 0.06% during the opening hours of trading on Tuesday. At 11am, the local currency was hovering at 282, a gain of Re0.17 against the greenback. On Thursday, the rupee settled at Rs282.17 against the US dollar. The currency market was closed from Friday to Monday on account of Eid holidays.
Internationally, the US dollar firmed on Tuesday as Washington and Beijing remained locked in trade talks that left investors on edge and hesitant in placing major bets while looking ahead to the US inflation report later in the week. Monitoring DESK
Top officials from the world’s two largest economies sought to defuse a bitter dispute that has widened from tariffs to restrictions over rare earths, with trade talks extending to a second day in London.
The talks come after US President Donald Trump and his Chinese counterpart Xi Jinping spoke by phone last week and at a crucial time for both economies, which are showing signs of strain from Trump’s cascade of tariff orders since January.
The lack of firm details despite positive sentiment from some officials and Trump meant the currency moves were mostly tepid.
The euro eased 0.17% to $1.14 and sterling was at $1.3543.
The US dollar index, which measures the US currency against six key rivals, was 0.2% higher at 99.189, but remained near six-week lows it touched last week.
The index is down 8.7% this year as investors, worried about the impact of tariffs and trade tensions on the US economy and growth, flee US assets and look for alternatives.
