RECORDER REPORT
KARACHI: The Pakistani rupee continued its marginal gain against the US dollar in the inter-bank market on Thursday.
The local unit closed the day at 276.85, a gain of Re0.01 against the greenback.
On Wednesday, the Pakistani had rupee settled at 276.86 against the dollar.
Internationally, a downdraft in the US dollar took a pause on Thursday as investors began hunkering down ahead of a slew of central bank meetings next week, where hawkish holds are expected on interest rates in Japan, the US and Europe.
The currency market is long the dollar on the assumption the AI boom keeps the US economy humming and that strong growth supports interest rates staying higher for longer.
Recent gains for sterling and currencies in Canada, Australia and New Zealand, all of which have lately touched their highest on the dollar in several weeks, suggest dollar bets have been pared a bit, though moves on Thursday were slight.
Sterling, which hit a one-month high of USD1.3409 earlier in the week, has been supported by hotter-than-expected British inflation and held at USD1.33955.
The Australian dollar, which made a three-week top on Wednesday, is hanging on above 70 US cents at USD0.7025, while expectations for a rate hike next week in New Zealand are hoisting the kiwi to a one-month high of USD0.5709.
The European Central Bank is expected to hold its benchmark rate at 2.5 percent next week, though a hike is all but priced in before the year’s end. Markets have priced a hold in Tokyo, too, with the next hike — to 1.5 percent — expected early next year.
The Federal Reserve is seen on hold in October, with the Fed funds rate window at 3.75-4 percent, but hiking in December.
Oil prices, a key indicator of currency parity, rose to their highest since May on Thursday after more Houthi attacks in Saudi Arabia stoked concerns over an escalation of the Middle East conflict and further disruptions to crude oil supplies from the world’s key exporting region.
Brent crude futures climbed USD3.19, or 2.9 percent, to USD112.01 a barrel by 1311 GMT. They hit USD112.68 a barrel earlier in the session, the highest since May 18.
Open-market movement
In the open market, the PKR remained unchanged for buying and lost 4 paise for selling against USD, closing at 277.52 and 278.65, respectively.
Against Euro, the PKR lost 33 paise for both buying and selling, closing at 311.23 and 314.12, respectively.
Against UAE Dirham, the PKR lost 1 paisa for buying and 3 paise for selling, closing at 75.59 and 76.21, respectively.
Against Saudi Riyal, the PKR lost 1 paisa for buying and 2 paise for selling, closing at 73.93 and 74.51, respectively.
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Open Bid Rs 277.52
Open Offer Rs 278.65
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday
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Open Bid Rs 276.85
Open Offer Rs 277.05
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RUPEE IN LAHORE: The Pakistani rupee remained stable against the US dollar and the British pound in the local currency market on Thursday.
According to currency dealers, the rupee maintained a positive posture against the US dollar during morning session and intraday trading. There was also no visible change in the sentiment which further strengthened the local currency against the US unit. However, later hours’ pressure changed the sentiment resulting in loss of early gains, dealers said.
At end of the trading, the rupee’s buying rate against the US dollar closed at Rs 277.00, unchanged from yesterday while selling value changed to Rs 279.50 from 279.30.
Against the British pound, the rupee’s buying rate was intact to its preceding day’s level at Rs 377.00 and selling rate changed to Rs 375.00 from 373.80 of Wednesday.
Copyright Business Recorder, 2026
