The Pakistani rupee continued its marginal gain against the US dollar in the inter-bank market on Wednesday.
The local unit closed the day at 276.70, a gain of Re0.01 against the greenback.
On Tuesday, the rupee had closed at 276.71 against the dollar.
Globally, the US dollar fell against most major currencies on Wednesday ahead of results from US midterm elections, with investors bracing for a potentially strong Democratic showing.
The first results in the US midterm elections began trickling in, with Democratic Senator Jon Ossoff winning reelection in Georgia in the first major race to be called.
The question of whether Democrats can wrest control of Congress from Donald Trump’s Republicans, though, was likely still hours away from a definitive answer.
The euro firmed 0.2% to $1.1212, while the yen strengthened to 158.30 per US dollar in early trading. The dollar index, which measures the greenback against a basket of six currencies, edged down 0.2% to 101.7.
The yield on the benchmark US 10-year Treasury note fell 4 basis points to 4.919%.
Oil prices, a key indicator of currency parity, rose on Wednesday in a volatile session as investors awaited Washington’s next move in the US-Israeli war on Iran, after Democrats captured control of Congress from President Donald Trump’s Republicans in the midterm elections.
Brent futures rose 76 cents, or 0.7%, to $104.36 a barrel at 0730 GMT. US West Texas Intermediate crude futures gained 63 cents, or 0.7%, to $96.72, reversing earlier declines.
In the previous session, Brent settled at its lowest level in nearly four weeks as traders weighed talks to end the wars in Ukraine and Iran.
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