The Pakistani rupee extended its marginal gains against the US dollar on Thursday.
The local unit closed the day at 277.90, a gain of Re0.01 against the greenback.
On Wednesday, the Pakistani rupee settled at 277.91 against the dollar.
Furthermore, the US dollar largely stabilised on Thursday as renewed US-Iran tensions kept investors on edge.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, eased 0.06% to 101.05.
The greenback has gained as the worsening flare-up between Washington and Tehran triggered a rebound in oil prices and fanned inflation fears.
The euro was last up 0.07% at $1.1418.
Oil prices climbed above $100 on Thursday, reaching their highest level in nearly two months, after Yemen’s Houthis said they had attacked two Saudi oil tankers in the Red Sea, adding to concerns over global supply disruptions from a near-halt in trade through the Strait of Hormuz.
Brent futures rose $6.64, or 7%, to $100.71 a barrel at 10:52am ET (1452 GMT), exceeding $100 for the first time since late May. The global crude oil benchmark has risen nearly 40% this month and was in technically overbought territory for a ninth day in a row, the first time since September 2023.
Inter-bank market rates for dollar on Thursday
BID Rs 277.90
OFFER Rs 278.10
Open-market movement
In the open market, the PKR lost 73 paise for buying and gained 8 paise for selling against USD, closing at 278.76 and 279.86, respectively.
Against Euro, the PKR lost 60 paise for both buying and selling, closing at 319.79 and 322.78, respectively.
Against UAE Dirham, the PKR lost 4 paise for both buying and selling, closing at 76.31 and 76.85, respectively.
Against Saudi Riyal, the PKR lost 4 paise for buying and 5 paise for selling, closing at 74.64 and 75.12, respectively.
Open-market rates for dollar on Thursday
BID Rs 278.76
OFFER Rs 279.86
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