Gold prices, rupee value depreciate

The rupee experienced a minor decline against the US dollar, depreciating by 0.03% in the interbank market on Monday. By the close of trading, the rupee settled at 278.83, reflecting a loss of 8 paisa compared to the previous trading day. Over the past week, the rupee remained relatively stable, closing at 278.75, a slight drop from 278.71, according to the State Bank of Pakistan (SBP). Market experts attribute the rupee's depreciation to three key factors: rising imports of around $5 billion per month, the SBP's dollar purchases to absorb surplus supply, and foreign loan repayments by the central bank. Internationally, the US dollar strengthened on Monday as traders evaluated the implications of US President Donald Trump's tariff policies. Although the dollar recorded its weakest performance since November 2023 last week due to diminished tariff concerns, fears resurfaced after Trump announced sweeping measures against Colombia.