Rupee stabilizes: The US dollar depreciated against the Pakistani rupee in the foreign exchange market.
Private TV Samane quoted currency dealers as saying that the rupee gained 0.01 percent against the dollar during trading in the interbank market on Tuesday. The rupee gained 2 piece to Rs 280.55 against the dollar. It may be recalled that the dollar had closed at Rs 280.57 on Monday.
On the other hand, internationally, the yen and Swiss franc maintained their positions near 6-month highs on Tuesday, while the US dollar suffered wide losses amid growing concerns about a slowdown in the economy due to President Donald Trump’s sweeping tariffs.
The dollar index was down 0.44 percent on Tuesday, having fallen more than one percent since the tariff announcement last week.