Rupee registers gain against US dollar

Business Recorder reported that the rupee edged higher against the US dollar on Tuesday, with the interbank market closing at 276.87. That was a gain of Rs0.03 from Monday's settlement of 276.90, equal to an appreciation of 0.01 per cent. The bid and offer rates in the interbank market stood at Rs276.87 and Rs277.07.

In the open market, the rupee gained 5 paise on the buying side and 1 paisa on the selling side, closing at 277.52 and 278.63 respectively. Against the euro, however, the local currency lost 8 paise for buying and 21 paise for selling, ending at 310.89 and 313.89. Elsewhere, the dollar index rose 0.2 per cent to 101.98 on Monday, ending a two-day slide.

Oil prices also advanced, with Brent crude climbing to $111.75 a barrel, its highest since May. Traders were pricing in geopolitical risk after Yemen's Houthis said they had launched attacks on Saudi energy, airport and military sites, claims Saudi authorities had not immediately confirmed. Reuters said it had been unable to verify them independently.