The Pakistani rupee continued to weaken against the US dollar, depreciating by 0.05% in the interbank market on Tuesday. The currency closed at 284.36, down by 14 paisa from the previous day’s rate of 284.22, marking a modest but notable decline amid global trade uncertainty.
This movement comes as international currency markets react to fresh US tariff announcements. On Monday, President Donald Trump unveiled 25% tariffs on imports from Japan and South Korea, adding volatility to global markets. The Japanese yen and South Korean won both dropped approximately 1%, with the yen hitting a two-week low. The US dollar, meanwhile, held firm against major currencies, maintaining gains from earlier in the week.
Oil prices also dipped slightly on Tuesday after rising nearly 2% the day before, as investors processed the implications of the tariff hike alongside OPEC+’s increased output for August. Brent crude fell by 0.3%, while West Texas Intermediate declined by 0.4%, movements that can influence emerging market currencies like the rupee.
In this broader economic context, the rupee’s minor depreciation reflects investor caution and sensitivity to global developments. As uncertainty continues, currency watchers expect further fluctuations in the short term.
Published in SouthAsianDesk, July 8th, 2025
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