The Pakistani rupee registered marginal decline against the US dollar, depreciating 0.01% during trading on Tuesday.
At close, the local currency settled at 282.21, a loss of Re0.04 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.
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.
Oil prices, a key indicator of currency parity, edged up 1% to a seven-week high on Tuesday on hopes trade talks between the U.S. and China – the world’s two biggest economies – will result in a deal that could support global economic growth and boost oil demand.
Brent crude futures rose 81 cents, or 1.2%, to $67.85 a barrel by 11:22 a.m. EDT (1522 GMT), while U.S. West Texas Intermediate crude rose 83 cents, or 1.3%, to $66.12.
Those gains pushed both crude benchmarks into technically overbought territory for the first time since early April and put Brent on track for its highest close since April 17 and WTI on track for its highest close since April 3.
U.S. Commerce Secretary Howard Lutnick said trade talks with China were going well as the two sides met for a second day in London, seeking a breakthrough on export controls that have threatened a fresh rupture between the superpowers.
Inter-bank market rates for dollar on Tuesday
BID Rs 282.21
OFFER Rs 282.40
Open-market movement
In the open market, the PKR lost 19 paise for buying and remained unchanged for selling against USD, closing at 282.53 and 284.40, respectively.
Against Euro, the PKR gained 26 paise for buying and 79 paise for selling, closing at 320.69 and 323.88, respectively.
Against UAE Dirham, the PKR lost 8 paise for buying and 3 paise for selling, closing at 76.72 and 77.48, respectively.
Against Saudi Riyal, the PKR lost 20 paise for buying and 14 paise for selling, closing at 75.00 and 75.75, respectively.
Open-market rates for dollar on Tuesday
BID Rs 282.53
OFFER Rs 284.40
American Dollar Exchange Rate