Rupee records gain against US dollar
- Settles at 277.62
The Pakistani rupee appreciated 0.10% against the US dollar, closing at 277.62, continuing its marginal gains amidst a weaker dollar index.
- Pakistani rupee's appreciation against the US dollar.
- Global currency market movements and the US dollar index.
- International crude oil price fluctuations.
The Pakistani rupee extended its marginal gains, appreciating 0.01%, against the US dollar on Monday.
The local unit closed the day at 277.62, a gain of Re0.03 against the greenback.
On Thursday , the Pakistani rupee settled at 277.65 against the dollar.
Meanwhile, the US dollar index, which measures the greenback’s strength against a basket of six currencies, was 0.1% lower, trading near its lowest levels of the month at 99.519.
The euro was flat at $1.1573, while the British pound was up 0.1% at $1.3546. Both the Australian dollar and its kiwi counterpart were level at $0.7085 and $0.5891 respectively.
Moreover, oil prices rose on Monday on a lack of progress in diplomatic efforts to resolve the Middle East conflict, though the absence of major supply outages limited gains.
Brent crude futures were up 34 cents, or 0.38%, at $88.86 a barrel by 1202 GMT after hitting a session high of $89.68. U.S. West Texas Intermediate crude futures rose 4 cents or 0.05% to $82.44 a barrel.
Inter-bank market rates for dollar on Monday
BID Rs 277.62
OFFER Rs 277.82
Open-market movement
In the open market, the PKR gained 13 paise for buying and 15 paise for selling against USD, closing at 278.46 and 279.47, respectively.
Against Euro, the PKR lost 1.29 rupee for buying and 1.19 rupee for selling, closing at 321.57 and 324.61, respectively.
Against UAE Dirham, the PKR gained 4 paise for buying and lost 1 paisa for selling, closing at 75.76 and 76.46, respectively.
Against Saudi Riyal, the PKR gained 4 paise for buying and 2 paise for selling, closing at 74.08 and 74.68, respectively.
Open-market rates for dollar on Monday
BID Rs 278.46
OFFER Rs 279.47
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