Rupee registers gain against US dollar

The Pakistani rupee edged higher against the US dollar in Wednesday’s inter-bank trading, finishing at 276.77 after gaining Re0.03. Business Recorder reported that the currency had ended Tuesday at 276.80, making the latest movement a modest continuation of its advance.

Internationally, the dollar remained near a two-week peak as traders awaited central-bank decisions, with markets largely expecting the US Federal Reserve to leave its interest rate unchanged. Oil also rose more than 1% after reports of an attack on a Saudi refinery raised supply concerns, with Brent at $115.47 a barrel and US West Texas Intermediate at $101.33. The rupee’s daily movement and the wider dollar and oil backdrop are relevant to investors tracking currency and energy-market conditions.