Pakistan rupee records gain against US dollar

Pakistan rupee records gain against US dollar. Add BRecorder as a trusted source on Google.

Key points

• While US West Texas Intermediate crude futures for September continued 17 cents to $86 a barrel, brent crude futures for October delivery rose 26 cents, or 0.28%, to $91.87 a barrel by 0439 GMT.
• The local unit closed the day at 277.57, a gain of Re0.03 against the greenback.
• The ‌dollar index, which measures the US currency against six other units, was at 98.938, around its lowest level since mid-May.
• The yield was last at 5.184% after dropping 9 basis points after the announcement on Wednesday.
• Both Brent and WTI benchmarks gained for a fifth straight session on Thursday, having settled on Wednesday at their highest since July 24.

Meanwhile, the Pakistani rupee extended its marginal gains, appreciating 0.01%, against the US dollar on Thursday.

Notably, the local unit closed the day at 277.57, a gain of Re0.03 against the greenback. On Wednesday, the Pakistani rupee settled at 277.60 against the dollar.

Furthermore, the US dollar nursed steep losses on Thursday, hovering near three-month lows.

Notably, the ‌dollar index, which measures the US currency against six other units, was at 98.938, around its lowest level since mid-May.

In practice, the euro was at $1.1676, perched at the highest level since late May.

In practice, the US Treasury unveiled intends to double liquidity backing buyback operations for longer-dated bonds after a steep bond selloff pushed the 30-year Treasury yield to a ⁠19-year high of 5.337%.

Meanwhile, the yield was last at 5.184% after dropping 9 basis points after the announcement on Wednesday. Moreover, oil rates climbed on Thursday.

While US West Texas Intermediate crude futures for September continued 17 cents to $86 a barrel, brent crude futures for October delivery rose 26 cents, or 0.28%, to $91.87 a barrel by 0439 GMT. The more-active October WTI contract gained 12 cents, or 0.13%, to $89.91.

Both Brent and WTI benchmarks gained for a fifth straight session on Thursday, having settled on Wednesday at their highest since July 24. Buying and selling currency exchange rates. PM Shehbaz invites opposition to dialogue 'to strengthen economy, democracy'. Trump warns of economic consequences for any country that supports Iran. Pakistan expects up to $100mn under first DPR programme.

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For now, pakistan rupee records gain against US dollar remains the part of the story worth watching, and further updates are likely as more details are confirmed.