KARACHI: The Pakistani rupee saw a marginal decline against the US dollar on Thursday, depreciating by 0.07% in the inter-bank market.

At the close of trading, the currency settled at 279.15, down by Re0.19 against the greenback, according to the State Bank of Pakistan (SBP). The rupee had closed at 278.96 on Tuesday, and the currency market was closed on Wednesday for the Kashmir Day holiday. In global markets, the US dollar slumped to an eight-week low against the yen and remained near a one-month low against sterling, as concerns about an inflation-driven global trade war eased. The dollar index stood at 107.57, close to its overnight low, following a brief spike earlier in the week due to tariffs imposed by the US on Mexico, Canada, and China. In the open market, the Pakistani rupee gained 4 paise for buying and 1 paisa for selling against the US dollar, closing at 278.66 and 280.90, respectively. Against the euro, the PKR lost 1.54 rupees for buying and 1.94 rupees for selling, while it gained 3 paise for buying against the Saudi Riyal and remained unchanged for selling.