Rupee drops against dollar

KARACHI: The rupee experienced slight losses in the interbank market on Tuesday, closing at 278.82 against the dollar, down from 278.65 in the previous session.

In the open market, the rupee also declined, trading at 281.24 per dollar, compared with 281.17 on Monday. Dealers said the local currency weakened due to higher dollar demand from importers and companies, which outpaced the supply from exporter conversions and remittances. This put pressure on the rupee.

Additionally, the rupee fell as investors evaluated the measures introduced by US President Donald Trump and their potential impacts on the global and Pakistani economies. Chase Securities commented that the US economy is set to be in the spotlight in the coming days as the newly sworn-in US president implements key initiatives during his early days in office.

His approach to digital assets, energy markets expected to create significant changes with wide-reaching implications for the global economy. Analysts predict the rupee to trade at 278.9 this week, 279 this month and 280 against the dollar in the current quarter of 2025.