Rupee registers gain against US dollar

Business Recorder reported that the rupee firmed slightly against the US dollar on Tuesday, with the inter-bank rate closing at 277.61. That was a gain of Rs0.01 from Monday's settlement of 277.62. The inter-bank bid and offer stood at Rs277.61 and Rs277.81 respectively.

The greenback was sitting near recent lows versus most leading currencies on Tuesday. The euro changed hands at $1.1581 in early Asian trade, a fraction below the $1.1614 two-month peak it reached on Monday. Sterling was quoted at $1.3548, a whisker shy of its three-month high from the prior session. Oil prices edged higher for a third consecutive session as the outlook for ending the Middle East war dimmed, with Brent crude up 0.22 per cent at $91.07 a barrel.

In the open market, the rupee was unchanged on buying at Rs278.46 and gained 6 paise on selling, closing at Rs279.41. Against the euro, the rupee gained 72 paise on buying and 82 paise on selling, with the quotes closing at Rs320.85 and Rs323.79. The UAE dirham and Saudi riyal also gained, with the riyal closing at Rs73.99 for buying and Rs74.60 for selling.