Pakistan rupee records gain against US dollar

Business Recorder reported that the Pakistani rupee edged up against the US dollar in the inter-bank market on Thursday, closing at 276.85. The increase was Re0.01 from Wednesday’s closing level of 276.86, marking a small daily move in the local currency.

International currency trading was also in focus as investors positioned themselves before central bank decisions expected next week in Japan, the United States and Europe. The report said the US dollar’s recent decline had paused, while sterling and currencies in Canada, Australia and New Zealand had recently reached multi-week highs against it. Oil prices also rose, with Brent up $2.82, or 2.59%, to $111.64 a barrel and US West Texas Intermediate gaining $2.24, or 2.31%, to $99.39.