RECORDER REPORT
KARACHI: The Pakistani rupee stretched its marginal gains against the US dollar in the inter-bank market on Wednesday.
The local unit closed the day at 276.95, a gain of Re0.01 against the greenback.
On Tuesday, the Pakistani rupee settled at 276.96 against the dollar.
Internationally, the US dollar languished on Wednesday as traders awaited fresh signals on the timing for interest rate hikes to contend with persistent inflation.
The greenback weakened from an 18-month high in the previous session as oil prices eased and investors reassessed the AI-fueled rally that has supported demand for US assets.
The euro clung to gains as budget concerns in France kept regional bond yields elevated and markets on edge.
Attention now focuses on the release of US consumer price index data as well as speeches from Federal Reserve policymakers that could clarify the outlook for interest rates.
The dollar index, which measures the greenback against a basket of currencies, edged 0.02percent lower to 102.16, following a 0.35percent slide on Tuesday.
The euro rose 0.04percent at USD1.1203.
The yen was little changed at 158.32 per dollar, and sterling rose 0.03percent to USD1.3256.
The dollar extended losses on Tuesday after New York Fed President John Williams said he still expects one more rate hike this year, but sees no need for further increases in 2027.
The US Labor Department is due to release its CPI for September, which is expected to have risen 0.6percent month-on-month after increasing 0.4percent in August, while annual inflation is seen accelerating to 3.6percent from 3.4percent. Additionally, the Fed is due to publish its Beige Book.
Traders see a 77percent chance that the Fed will leave rates unchanged at its October 27-28 meeting, up from 51percent a month ago, while pricing in about 75 basis points of tightening by late 2027, CME Group FedWatch Tool showed.
Oil prices, a key indicator of currency parity, steadied on Wednesday after rising on an attack on the headquarters of Saudi Arabia state-owned oil company and Iranian comments about new tactics deployed to target ships and keep oil prices high to influence US midterm elections.
Brent crude futures were up 13 cents at USD105.56 a barrel by 1325 GMT. US West Texas Intermediate crude gained USD1.25, or 1.33percent, to USD95.39 for a more than two-week high.
Open-market movement
In the open market, the PKR gained 2 paise for buying and lost 13 paise for selling against USD, closing at 277.53 and 278.79, respectively.
Against Euro, the PKR lost 58 paise for buying and 70 paise for selling, closing at 310.02 and 312.99, respectively.
Against UAE Dirham, the PKR gained 1 paisa for buying and 2 paise for selling, closing at 75.52 and 76.13, respectively.
Against Saudi Riyal, the PKR lost 1 paisa for buying and gained 2 paise for selling, closing at 73.82 and 74.38, respectively.
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Open Bid Rs 277.53
Open Offer Rs 278.79
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday
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Open Bid Rs 276.95
Open Offer Rs 277.15
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RUPEE IN LAHORE: The Pakistani rupee ended firmer against the US dollar while slightly depreciating versus the British pound in the local currency market on Wednesday.
Local currency dealers said at the open of trading, the rupee showed positive signs maintaining the previous day’s trend amid mild trading activity. The local currency showed weak signs during intraday trading with a volatile movement, dealers said. However, they added, the situation turned better following renewed interest helping the rupee finish the day with a positive note.
At the close, the rupee’s buying and selling rates in comparison to the US dollar stood unchanged at Rs 278.30 and Rs Rs279.20, respectively.
Against the British pound, the rupee’s buying and selling rates closed at Rs 367.300 and Rs 369.50 compared with preceding day’s Rs366.00 and Rs368.50, respectively.
Copyright Business Recorder, 2026
