RECORDER REPORT
KARACHI: The Pakistani rupee saw slight improvement against the US dollar in the inter-bank market on Thursday.
At close, the local currency settled at 280.55, a gain of Re0.01 against the greenback.
On Wednesday, the local unit closed at 280.56.
Internationally, the US dollar was on the back foot on Thursday, with trade thinned ahead of the US Thanksgiving holiday and investors turning to the coming year, where a series of US interest rate cuts are priced in.
The yen drifted 0.4 percent higher to 155.87 per dollar, and the euro clambered above USD1.16 in morning trade.
A resurgent New Zealand dollar skipped out to a three-week peak of USD0.5714 following a hawkish shift at the central bank and strong economic data.
The Australian dollar has also been gaining after a hotter-than-expected inflation reading on Wednesday added to the case that the easing cycle there is also finished.
Australia’s 10-year rate of 4.48 percent is the highest in the G10, which analysts point out makes the currency look cheap.
At USD0.6526 the Aussie is in the middle of a channel where it has traded for about 18 months.
Sterling inched up to its highest since late October at USD1.3256 and was on course for the largest weekly rise since August as Britain’s budget alleviated some concerns about the national finances.
The US dollar index was flat at 99.433, having retreated from a six-month high hit a week ago to head for its largest weekly drop since July.
Oil prices, a key indicator of currency parity, fell on Thursday on expectations of a Ukraine-Russia ceasefire, which could pave the way for the unwinding of Western sanctions against Russian supply, though trading was set to remain thin due to the US Thanksgiving holiday.
Brent crude futures shed 33 cents, or 0.5 percent, to USD62.8 a barrel as of 0445 GMT, while US West Texas Intermediate crude futures lost 32 cents, or 0.6 percent, to USD58.33 a barrel.
Both contracts settled about 1 percent higher on Wednesday as investors assessed oversupply risk and the prospect of a Russia-Ukraine peace deal.
Open-market movement
In the open market, the PKR gained 2.00 paisa for buying and remained unchanged for selling against USD, closing at 281.22 and 281.60, respectively.
Against Euro, the PKR lost 16.00 paisa for buying and 37.00 paisa for selling, closing at 325.30 and 328.45, respectively.
Against UAE Dirham, the PKR lost 5.00 paisa for buying and 10.00 paisa for selling, closing at 76.62 and 77.40, respectively.
Against Saudi Riyal, the PKR gained 4.00 paisa for buying and lost 1.00 paisa for selling, closing at 74.93 and 75.56, respectively.
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Open Bid Rs 281.22
Open Offer Rs 281.60
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday
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Open Bid Rs 280.55
Open Offer Rs 280.75
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RUPEE IN LAHORE: The Pakistani rupee stayed firm against the US dollar while tumbled versus the British pound, in the local currency market here on Thursday.
According to currency dealers, the rupee took a positive start and fared better in early trading session, but later in the day depicted volatility amid slow trading. At the end, its buying and selling value against the greenback settled at its previous day’s closing level at Rs 281.30 and Rs 281.60, respectively.
The rupee, however, receded again against the British pound both, on buying and selling counters, finally closing at Rs 371.00 and Rs 375.00 against RS 369.30 and Rs 373.00, respectively, of Wednesday.
Copyright Business Recorder, 2025
