Rupee records gain against US dollar

Business Recorder reported that the rupee edged up by Re0.01 against the US dollar in inter-bank trading on Tuesday, ending at 276.65. In the previous week, it had strengthened by Re0.09 to 276.66 from 276.75, a 0.03% appreciation, based on State Bank of Pakistan data.

International currency markets were awaiting US inflation figures, with the dollar steady in Asian trading after recent volatility. Brent fell 70 cents, or 0.75%, to $91.88 a barrel, while WTI declined 78 cents, or 0.90%, to $86.07, as reduced concern over possible military action against Iran eased supply-disruption worries. The report also said markets were pricing an 85% chance of a US Federal Reserve rate increase next month, following strong October employment figures.