ISLAMABAD: The Pakistani Rupee recorded a marginal gain against the US Dollar in the domestic exchange market on Monday.
In the interbank market, the Pakistani Rupee closed at 277.55 per US Dollar after a slight increase of 1 paisa. On Friday, the Dollar had closed at 277.56 Rupees. Meanwhile, the US Dollar remained under pressure in global markets after the US Treasury’s pledge to buy long-term bonds.
The Dollar slipped close to its lowest level in several months. The Canadian Dollar fell 0.2% after failed trade talks between Canada and the US, with both countries imposing 50% tariffs on each other.
The Euro held strong at 1.1685 against the US Dollar, while the Japanese Yen traded at 159 per Dollar. The Australian and New Zealand Dollars traded near 3-month highs at 0.7171 and 0.5979 respectively. In the crypto and commodities market, the US Dollar faced its biggest weekly drop in 3.5 years against Bitcoin.
The Dollar also weakened against gold prices. Crude oil prices also recorded a decline in global markets. US West Texas Intermediate fell 1.62% to $85.65 per barrel, while international benchmark Brent Crude dropped 1.38% to close at $93.09 per barrel.
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