Rupee registers gain against US dollar

Business Recorder reported that the rupee edged up against the US dollar on Tuesday, adding 0.01% in interbank trading. The currency finished the session at 277.37, which is Rs0.03 stronger than the 277.40 level seen on Monday. Interbank offer quotes stood at Rs277.57 at the same time.

Open-market dollar quotes on Tuesday were Rs278.21 for buying and Rs279.06 for selling, with the rupee up 4 paise on the bid and 3 paise on the offer. Against the euro, the currency rose 20 paise on the buy rate but fell 5 paise on the sell rate, leaving the buy and sell rates at 322.29 and 325.23. Against the UAE Dirham the rupee was unchanged, while versus the Saudi Riyal it added 2 paise on buying but lost 3 paise on selling.

Globally, the Japanese yen reached 153.53 against the dollar early in the session, its strongest level since February. Brent crude traded at $97.48 a barrel after hitting $99.46, the highest since July 24, following Houthi attacks on Saudi energy facilities. Attention now turns to US inflation data this week ahead of the FOMC meeting on September 15 to 16.