Rupee extends gain against US dollar
Business Recorder • • 1 min read
The Pakistani rupee strengthened by Re0.01 against the US dollar on Thursday, closing at 276.76 in the inter-bank market, Business Recorder reported. The local currency had ended Wednesday at 276.77 per dollar, making the latest move a slight extension of its recent gain.
The dollar was steady internationally after the US Federal Reserve kept interest rates unchanged, with future policy decisions dependent in part on upcoming inflation data. Oil prices also fell as hopes for peace talks eased concerns over supply disruptions: Brent dropped 1.1% to $114.10 a barrel, while US WTI declined 1.3% to $101.45. These global currency and oil movements formed part of the market context around the rupee.
At a glance
- The rupee closed at 276.76 per dollar, up Re0.01.
- Brent crude fell 1.1% to $114.10 a barrel.
Originally reported by Business Recorder
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