Pakistan rupee records gain against US dollar

On Monday the rupee firmed by Rs0.01 in the inter-bank market, finishing at 277.55 per dollar, according to Business Recorder. The currency had ended Friday at 277.56, so the move was small but extended a series of marginal gains. The bid rate stood at Rs 277.55 while the offer was Rs 277.75.

In the open market, the dollar was quoted at Rs 278.26 for buying and Rs 279.25 for selling. The rupee was unchanged on the buying side and gained 3 paise on selling, while it strengthened by 46 paise against the euro on both buying and selling, closing at 323.15 and 326.26 respectively. Against the UAE dirham and the Saudi riyal, the rupee dipped slightly on buying and was steady or firmer on selling, with the dirham closing at 75.58 and 76.25 and the riyal at 73.88 and 74.47.

Elsewhere, the greenback stayed weak near multi-month lows on Monday. Brent crude futures fell $1.01, or 1.1%, to $93.38 a barrel as market participants locked in gains and awaited particulars of anticipated US measures against Iran.