Rupee registers gain against US dollar

The Pakistani rupee extended its marginal gains against the US dollar in the interbank market on Thursday.

The local unit closed the day at 277.10, a gain of Re0.01 against the greenback.

On Wednesday, the Pakistani rupee settled at 277.11 against the dollar.

Internationally, the US dollar held near a two-month high on Thursday, supported by ​an extended rise in US Treasury yields partly driven by concerns over persistent global price pressures ‌stemming from the Middle East war.

Data showing US inflation rose less than expected in August, along with downward revisions to July’s reading, reduced expectations for a Federal Reserve rate hike this month.

But a surge in eurozone inflation underscores the threat that higher energy prices continue ​to pose to the global economy.

Against the US dollar, the euro was marginally lower at $1.1330 in the early ​Asian session. It clocked a loss of nearly 2.5% in September, the largest since July ⁠2025, pressured by Europe’s debt and energy worries.

Sterling was flat at $1.3264 after having slid 2.1% last month, similarly weighed ​down by a stronger greenback.

The US dollar was perched near a two-month high against a basket of currencies, and last ​stood at 101.48, after rising 2% in September.

Oil prices, a key indicator of currency parity, rose around 2% on Thursday after China suspended oil products exports, ‌potentially tightening fuel markets already coping with supply shortages globally, while investors continued to assess diplomatic efforts to end the US-Israeli war on Iran.

The new front-month December Brent crude futures contract traded at $99.77 per barrel at 1312 GMT, up 1.8%, or $1.7, from Wednesday’s close. The November contract expired on Wednesday, settling at $103.50 per ​barrel, marking a monthly gain of around 14% in September for the front-month contract.

Inter-bank market rates for dollar on Thursday

BID Rs 277.10

OFFER Rs 277.30

Open-market movement                                                         

In the open market, the PKR gained 9 paise for buying and 4 paise for selling against USD, closing at 277.97 and 279.09, respectively.

Against Euro, the PKR gained 1.37 rupee for buying and 98 paise for selling, closing at 313.73 and 317.15, respectively.

Against UAE Dirham, the PKR gained 1 paisa for buying and lost 2 paise for selling, closing at 75.67 and 76.27, respectively.

Against Saudi Riyal, the PKR gained 1 paisa for buying and lost 1 paisa for selling, closing at 73.98 and 74.49, respectively.

Open-market rates for dollar on Thursday

BID Rs 277.97

OFFER Rs 279.09