Mixed Rupee Movements Reflect Global Currency Volatility Amid Central Bank Cues

The Pakistani rupee showed a modest appreciation against the US dollar, trading around Rs 281 in the inter-bank market, supported by steady inflows and controlled market sentiment, according to the State Bank of Pakistan. Despite a slight uptick, the rupee remains volatile due to external factors including global oil prices and trade dynamics. Concurrently, the Indian rupee faced pressure, depreciating to around 88.40 against the US dollar amid month-end demand and rising crude oil prices, with traders awaiting the Federal Reserve's upcoming rate decision. The Indian rupee's movement is also influenced by expectations of US-China trade developments during President Donald Trump's Asia tour, which has created cautious optimism in currency markets. Both currencies reflect the interplay of domestic economic policies, global commodity prices, and geopolitical events shaping investor sentiment and exchange rates in South Asia.