RECORDER REPORT
KARACHI: The Pakistani rupee extended its marginal gains against the US dollar in the interbank market on Wednesday.
The local unit closed the day at 277.20, a gain of Re0.01 against the greenback.
On Tuesday, the Pakistani rupee settled at 277.21 against the dollar.
Globally, the US dollar steadied near its strongest level in two months on Wednesday on prospects of interest rate hikes in the near term, while easing oil prices on hopes for a diplomatic breakthrough to end the Middle East war kept investors on edge.
The euro was at USD1.1446 in early trading, loitering near its weakest level since late July. Sterling bought USD1.3337. The dollar index, which measures the US currency against six rivals, was at 100.56.
The recent barrage of rate hikes and hawkish rhetoric from major central banks has taken centre stage in currency markets as the US-Israeli conflict with Iran drives oil prices higher and fans inflation worries.
Investors are now anticipating further tightening from central banks, with Federal Reserve officials flagging the possibility of more hikes if inflation does not ease.
Investors are also waiting for a high-stakes meeting between Trump and Chinese President Xi Jinping as the two leaders seek stability in a relationship under pressure over wide-ranging issues.
The Japanese yen was at 157.55 per US dollar as traders remain wary of the threat of intervention as markets judged the Bank of Japan’s rate hike to a 31-year high last week as insufficiently hawkish.
Oil prices, a key indicator of currency parity, held near their lowest in more than two weeks on Wednesday as improving Gulf crude supplies weighed on the market, though diesel refining margins hit a record high on potential restrictions to US diesel exports.
Brent crude futures rose USD1.33, or 1.34percent, to USD100.58 a barrel by 1303 GMT while West Texas Intermediate futures gained 65 cents, or 0.72percent, to USD91.17.
Open-market movement
In the open market, the PKR gained 2.00 paisa for buying and 4.00 paisa for selling against USD, closing at 278.17 and 279.22, respectively.
Against Euro, the PKR gained 1.18 rupee for buying and 88.00 paisa for selling, closing at 317.45 and 320.75, respectively.
Against UAE Dirham, the PKR remained unchanged for buying and lost 2.00 paisa for selling, closing at 75.70 and 76.29, respectively.
Against Saudi Riyal, the PKR lost 1.00 paisa for both buying and selling, closing at 74.02 and 74.52, respectively.
========================
Open Bid Rs 278.17
Open Offer Rs 279.22
========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday
========================
Open Bid Rs 277.20
Open Offer Rs 277.40
========================
RUPEE IN LAHORE: The Pakistani rupee closed stable against the US dollar and British pound in the local currency market on Wednesday.
Currency dealers said the rupee maintained the overnight positive trend in the morning session after the open, but shortly fell prey to pressure. During the intraday trading, it recovered versus the US unit but subsequently a volatile trend prevailed leaving the local currency directionless, dealers reported. However, during the second half of the last session, fresh interest generated which helped the rupee regain strength and finally finish with a firmer note, they added.
At the final count, the rupee’s buying rate against the US dollar settled at Rs 278.00, unchanged from the preceding day while selling value changed to Rs 280.00 from Rs 280.25.
Against the British pound, the rupee’s buying rate ended at Rs 368.34 compared with Rs369.54 of Tuesday while selling rate stood unchanged at Rs375.00.
Copyright Business Recorder, 2026
