Pakistan rupee records gain against US dollar

Pakistan rupee records gain against US dollar.

Key points

• While US West Texas Intermediate crude futures were 16 cents, or 0.19% higher at $85.10 a barrel, brent crude futures were up 18 cents, or 0.2%, at $91.20 by 1302 GMT.
• Against Euro, the PKR lost 19 paise for buying and 3 paise for selling, closing at 321.04 and 323.82, respectively.
• Against Saudi Riyal, the PKR gained 11 paise for buying and 9 paise for selling, closing at 73.88 and 74.51, respectively.
• In the open market, the PKR gained 8 paise for buying and 3 paise for selling against USD, closing at 278.38 and 279.38, respectively.
• Against UAE Dirham, the PKR gained 8 paise for buying and 5 paise for selling, closing at 75.61 and 76.30, respectively.

Meanwhile, the Pakistani rupee gained marginally against the US dollar. It weakened globally as Treasury yields eased. Meanwhile, oil rates reached a three-week high amidst currency market shifts. Oil rates hitting a three-week high. Add BRecorder as a trusted source on Google.

Meanwhile, the Pakistani rupee extended its marginal gains against the US dollar on Wednesday.

Notably, the local unit closed the day at 277.60, a gain of Re0.01 against the greenback. On Tuesday, the Pakistani rupee settled at 277.61 against the dollar.

Furthermore, the US dollar drifted near multi-month lows against major peers on Wednesday as Treasury yields eased from recent highs, with investors awaiting ‌minutes of the Federal Reserve's latest policy session for clues on the path of interest rates.

Meanwhile, the euro inched higher to $1.1577, remaining close to the two-month high touched earlier this week.

Sterling was little changed at $1.3533, holding near a three-month high ahead of British inflation data due afterwards on Wednesday. It is widely anticipated to show persistent cost pressure.

For context, the Japanese yen was little changed at 159.56 per ⁠dollar, having given back much of its intervention gains, but it is still well off a multi-decade low of regarding 164.

Meanwhile, the dollar index, which measures the US currency against six major peers, was down marginally at 99.65.

Meanwhile, oil rates trimmed gains but kept near a three-week high hit earlier on Wednesday on uncertainty over shipping through the Strait ‌of Hormuz and other ongoing supply disruptions in the market.

While US West Texas Intermediate crude futures were 16 cents, or 0.19% higher at $85.10 a barrel, brent crude futures were up 18 cents, or 0.2%, at $91.20 by 1302 GMT. Inter-bank market rates for dollar on Wednesday.

Against Saudi Riyal, the PKR gained 11 paise for buying and 9 paise for selling, closing at 73.88 and 74.51, respectively. Open-market rates for dollar on Wednesday. Buying and selling currency exchange rates. Pakistan seeks $10bn US Exchange Stabilisation Backing Facility, Aurangzeb confirms.

PM Shebaz asks petroleum minister to travel to Karachi over fuel rates. Oil hits three-week high on uncertainty over Hormuz. Bilawal urges opposition to return to parliamentary committees. PSX: KSE-100 settles 1, 100 points lower against the backdrop of late selling. Govt launches Retailer Scheme App to bring millions into tax net.

Murree Brewery, Systems Limited, Sazgar create it to Forbes 'Asia's Best Under A Billion' list. Gold cost per tola drops Rs3, 700 in Pakistan. Nishat Mills to exit dairy venture with Turkish partner Sutas. Trump pauses tariffs on Canadian imports, Carney notes key work remains. Currency Rate USD PKR Interbank Selling. Item Value Karachi Cotton PKR/37.32 KG. Aisha Steel Mills Limited (CPS)(ASLCPS). J.A. Textile Mills Limited(JATM). J.K. Spinning Mills Limited(JKSM). Sui Southern Gas Firm Limited(SSGC).

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.