Rupee records marginal gain against US dollar
The Pakistani rupee extended its marginal gains against the US dollar on Friday. The local unit closed the day at 277.50, a gain of Re0.01 against the greenback. On Thursday , the Pakistani rupee settled at 277.51 against the dollar. The US dollar held flat near a one-week high against major peers on Friday. The euro and sterling were subdued near one-week lows against the greenback, last at…
On Friday, the Pakistani rupee made a marginal gain against the US dollar, closing at 277.50, marking an increase of Re0.01. On Thursday, the same rate was 277.51 against the dollar. The US dollar remained steady near a one-week high against major currencies. Simultaneously, the euro and sterling were on a decline near one-week lows, with the euro at $1.1652 and the sterling at $1.3597.
The yen, however, remained relatively stable at 159.34 per dollar, set to achieve a 1.3% monthly rise. The dollar index, a measure of the dollar's strength against six major currencies, remained unchanged at 99.13 in early Asian trading. Moreover, oil prices experienced a decline, with Brent crude futures falling 25 cents to $89.45 a barrel and WTI crude futures dropping 22 cents to $83.31. Both were expected to end the week on a downward trend, with Brent down 5.3% and WTI falling 4.3%.
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