Rupee records gain against US dollar
The Pakistani rupee extended its marginal gains against the US dollar in the interbank market on Thursday. The local unit closed the day at 277.35, a gain of Re0.01 against the greenback. On Wednesday , the Pakistani rupee settled at 277.36 against the dollar. Internationally, Currency markets treaded water in cautious trading on Thursday as investors weighed a fresh surge in oil prices and…
Pakistan's rupee continued its slight upward trend against the US dollar on Thursday, closing at 277.35, marking a gain of one paise. The following day, it settled at 277.36. Globally, currency markets remained subdued as investors analyzed rising oil prices and global bond yields. The yen's strong performance was expected to take a breather before US economic data.
Bond yields rose, reaching their highest since 2023, while the greenback experienced minor relief. The euro and pound also weakened slightly. The yen's ascent to a seven-month high was halted, and the dollar index moved away from its three-week low. Market attention shifted to macroeconomic indicators, with a focus on US inflation data ahead of the FOMC meeting on September 15-16.
Oil prices remained stable after Brent crude surpassed $100 a barrel, amid fears of supply disruptions from recent attacks by Iran and the US on shipping vessels.
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- Surging crude oil prices: Rupee breaches 95/dollar mark thehindubusinessline.com
- Rupee records gain against US dollar brecorder.com
