Rupee registers gain against US dollar

The Pakistani rupee edged higher against the US dollar in the interbank market on Friday, according to Business Recorder. The local currency closed at Rs276.91 to the greenback, a gain of Rs0.01 from Thursday's settlement of Rs276.92.

In the open market, the rupee strengthened against the dollar, adding 4 paise on the buying rate and 13 paise on the selling rate. Quotes closed at Rs277.47 and Rs278.64 respectively. Against the euro, however, the currency lost 75 paise for buying and 71 paise for selling, ending at Rs311.34 and Rs314.17. Its moves against the UAE dirham and Saudi riyal were mixed, with small changes in both directions.

Abroad, the dollar was on course for a weekly decline, its first in five weeks, after wobbles in AI investment and a drop in US yields curbed recent gains. The dollar index stood at 102.07 and was set to fall 0.14 per cent this week, while the euro traded near $1.1210.