Rupee registers gain against US dollar

Business Recorder reported that the Pakistani rupee added Re0.03 against the US dollar in inter-bank trade on Thursday, ending at 276.67. The currency’s rise was 0.01%, following Wednesday’s close at 276.70. The movement was slight, with the local unit extending its recent direction against the dollar.

In international markets, the dollar index slipped 0.06% to 101.41 after dropping 0.36% in the previous session, while the euro gained 0.12% to $1.1241. The yen rose 0.08% to 158.25 per dollar, and traders continued to assign an 81.2% chance to a Fed rate increase of at least 25 basis points in December. Oil also weakened, with Brent down 80 cents to $93.82 a barrel and US West Texas Intermediate lower by $1.2 to $86.92.