Rupee registers gain against US dollar
The Pakistani rupee extended its marginal gains against the US dollar on Tuesday. The local unit closed the day at 277.61, a gain of Re0.01 against the greenback. On Monday , the Pakistani rupee settled at 277.62 against the dollar. The US dollar held near multi-month lows against most major currencies on Tuesday. The euro fetched $1.1581 in early Asian hours, not far from the two-month high of…
Pakistani rupee continued its slight rise against the US dollar on Tuesday, closing at 277.61, marking a gain of Re0.01. On Monday, the local unit had settled at 277.62 against the dollar. Meanwhile, the US dollar remained near multi-month lows against major currencies. The euro traded at $1.1581 early Tuesday, close to its two-month high of $1.1614 from the previous day.
The British pound was at $1.3548, just below its three-month peak. Oil prices also surged for the third consecutive day due to doubts about ending the Middle East conflict. Brent crude futures increased by 89 cents, or 1%, to $91.76 a barrel, reaching their highest since July 30. US West Texas Intermediate crude futures rose by $1.05 to $85.55 a barrel, extending their gains since the prior session to their highest since July 31.
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