Pakistan rupee records gain against US dollar

Business Recorder reported that the rupee edged up 0.01 per cent against the dollar on Thursday, extending its modest gains. The interbank rate closed at Rs277.42, a gain of Rs0.03 from the Rs277.45 level seen on Wednesday. Interbank bid and offer quotes were Rs277.42 and Rs277.62 respectively. These were the inter-bank market rates for the dollar on Thursday.

In the open market, the rupee gained 7 paise on the buying rate and 3 paise on the selling rate, closing at Rs278.26 and Rs279.15. Against the euro, however, it lost 62 paise for buying and 48 paise for selling, ending at Rs321.67 and Rs324.49. A statement from the Finance Division said Pakistan raised $3 billion through a two-tranche Eurobond sale, drawing orders of nearly $6 billion.