The Pakistani rupee remained stable against the US dollar in the inter-bank market on Tuesday, the State Bank of Pakistan data showed.

By the end of the day, the rupee was valued at 279.67, reflecting a slight decline of Re0.01 compared to the previous day’s closing rate of 279.66.

In international markets, the US dollar experienced an uptick on Tuesday after hitting its lowest point in over two months earlier in the week. This increase was driven by safe-haven investments following US President Donald Trump’s announcement that tariffs on Mexico and Canada would move forward as planned.

On Monday, Pakistani rupee was appreciated by 0.03% in the inter-bank market during Monday’s early trading session.

Three days back, the rupee was trading at Rs279.45, which showed an increase of Re0.01 against the dollar. On Thursday, it had closed at 279.46.

In the local market, gold price per tola reached Rs309,500 after a single-day rise of Rs1,500 on Monday.

Oil prices, an important indicator of currency parity, increased for the second day on Tuesday due to new US sanctions on Iranian oil production while global refining margins remained robust.

Brent crude futures rose by 38 cents, or 0.5%, reaching $75.16 a barrel by 0401 GMT. Meanwhile, US West Texas Intermediate crude futures gained 47 cents, or 0.7%, to $71.17 a barrel. Both contracts also saw gains in Monday’s trading session, recovering from a $2 decline the previous Friday.

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Meanwhile, the Federal Tax Ombudsman has issued a directive that consumers utilising solar net metering across the country would be subject to an 18% sales tax following the discovery of a significant revenue loss amounting to Rs9.8 billion, Business Recorder reported.