Rupee records gain against US dollar
The Pakistani rupee extended its marginal gains against the US dollar in the interbank market on Tuesday. The local unit closed the day at 277.21, a gain of Re0.01 against the greenback. On Monday , the Pakistani rupee settled at 277.22 against the dollar. Globally, the Japanese yen was under pressure from a firm US dollar on Tuesday as traders wagered on policymakers in Japan struggling to keep…
On Tuesday, the Pakistani rupee continued its slight upward trend against the US dollar in the interbank market, settling at 277.21. This marked a gain of Re0.01 compared to the previous day's closing rate of 277.22. Meanwhile, globally, the Japanese yen faced pressure from a strong US dollar, with traders anticipating central banks' struggle to maintain rates amid hawkish positions.
The market's activity was somewhat limited due to Japan's holiday and the possibility of intervention, as reported by the Nikkei newspaper. The Australian dollar traded at $0.7120, while the British pound hovered around $1.3372. The New Zealand dollar was near multi-month lows, tied to lower-than-average interest rates. Oil prices, a significant factor in currency valuation, saw a rise as traders awaited potential outcomes from US-Iran talks at the United Nations General Assembly.
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