Rupee records gain against US dollar

Business Recorder reported that the rupee firmed a little further against the greenback in interbank trading on Wednesday. The local currency finished the session at Rs277.11, gaining Rs0.01 against the dollar, after settling at Rs277.12 on Tuesday. Interbank bid and offer rates stood at Rs277.11 and Rs277.31 respectively.

Internationally, the dollar hovered near its highest level this year against the euro on Wednesday and was on course for its strongest monthly gain against the currency in 14 months. The report linked this to US growth and a rise in US interest rates, set against energy and debt worries in Europe. The euro slid to $1.1312, its weakest since May 2025, before trading near $1.1339 during Asian hours. Oil prices also rose, with Brent November futures up 1 per cent at $103.71 a barrel, as US-Iran peace talks stalled and US fuel markets tightened.

Open-market quotes moved differently, with the buying rate easing 1 paisa to Rs278.06 and the selling rate rising 2 paise to Rs279.13. Against the euro, the rupee gained 41 paise on the buying rate and 52 paise on the selling rate, ending at Rs315.10 and Rs318.13. The rupee also gained a few paise against the UAE dirham and Saudi riyal in the open market.