Rupee strengthens up against US dollar
The Pakistani rupee extended its marginal gains, appreciating 0.1% against the US dollar on Tuesday. The local unit closed the day at 277.67, a gain of Re0.03 against the greenback. On Monday , the Pakistani rupee settled at Rs277.70 against the dollar. Meanwhile, the US dollar was steady against most major currencies as oil prices hovered near one-week highs amid dimming hopes of a deal between…
The Pakistani rupee strengthened slightly against the US dollar on Tuesday, appreciating 0.1% to close at 277.67, marking a gain of Re0.03 against the greenback. This follows its settlement at Rs277.70 against the dollar on Monday. Meanwhile, the US dollar maintained steady levels against most major currencies as oil prices hovered near one-week highs.
Despite dimming hopes of a deal between the US and Iran to resolve the Middle East conflict, the euro reached $1.1544 and the British pound was at $1.3509 in Asian trading hours. The Japanese yen stabilized on Tuesday after a sharp decline the previous day, as a joint US-Japan intervention failed to produce a lasting boost. However, the yen remained below its three-month high of 155.20 set last week following a rare US-Japan yen-buying intervention at the end of July.
Additionally, oil prices stabilized at more than one-week highs, with Brent crude futures flat at $87.81 a barrel and US West Texas Intermediate crude futures holding at $82.20 a barrel.
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