Pakistan rupee registers marginal gain against US dollar
- Settles at 278.06
The Pakistani rupee posted a marginal 0.01% gain against the US dollar, closing at 278.06 on Thursday. This occurred as the US dollar remained firm against most other major currencies globally.
- Pakistani rupee's slight appreciation.
- Global currency market trends.
- Oil price surge after US strikes on Iran.
The Pakistani rupee posted marginal gain, appreciating 0.01% against the US dollar in the inter-bank market on Thursday.
At close, the local currency settled at 278.06, a gain of Re0.01 against the greenback.
On Wednesday, the rupee closed at 278.07 against the dollar.
The US dollar held firm against most major currencies on Thursday.
The dollar fetched 162.41 yen , hovering near the strongest level since July 1. The euro and the British pound were largely flat and traded at $1.1426 and $1.3392, respectively.
The New Zealand dollar remained well bid after the previous day’s rate hike and the central bank’s hawkish stance, extending its gains by 0.5% to $0.5725. The Australian dollar added 0.1% at $0.6936.
The US dollar index, which measures the currency against a basket of six peers, was little changed at 100.96.
Moreover, oil prices rose more than 1% on Thursday after the US carried out fresh strikes on Iran.
Brent crude futures rose 86 cents, or 1.1%, to $78.88 a barrel by 0352 GMT.
US West Texas Intermediate crude futures were up 85 cents, or 1.2%, at $74.37 a barrel.
Both crude benchmarks, WTI and Brent, rose more than a dollar in post-settlement trade on Wednesday after the US military began launching fresh strikes on Iran.
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