Intra-Day Currency Update: Rupee Edges Higher Against US Dollar

PKR trades at 282.28 in inter-bank market

The Pakistani rupee continued its mild appreciation against the US dollar during early trade on Tuesday, gaining Re0.17 or 0.06% in the inter-bank market.

At 10:20 AM, the local currency was quoted at 282.28 against the greenback, compared to Monday’s closing rate of 282.45.

In the global market, the US dollar held steady ahead of a crucial US consumer inflation report that may influence expectations for upcoming Federal Reserve interest rate decisions. The US Dollar Index was stable at 98.497, after a 0.5% rise over the past two sessions.

Traders currently price in an 89% probability of a quarter-point Fed rate cut on September 17, although inflation trends and tariff impacts remain key watch factors.

In commodities, oil prices gained on optimism following the extension of the US-China trade truce. Brent crude was up 0.39% at $66.89 per barrel, while WTI rose 0.34% to $64.18.