RECORDER REPORT
KARACHI: The Pakistani rupee continued its marginal gain against the US dollar, appreciating 0.01percent in the inter-bank market on Thursday.
The local unit closed the day at 276.67, a gain of Re0.03 against the greenback.
On Wednesday, the rupee had closed at 276.70 against the dollar.
Internationally, the US dollar edged lower on Thursday in the aftermath of an overwhelming victory by Democrats in US midterm elections that cleared a major source of uncertainty and fuelled a rally in global equities.
The yen firmed after minutes of the Bank of Japan’s September meeting reinforced expectations for further interest rate hikes, while sterling held near a seven-week high ahead of a Bank of England policy decision expected to deliver another rate increase.
Democrats swept to sizable majorities in the Senate and House of Representatives, easing concerns about contested results and spurring gains in US Treasuries and equities around the world.
The dollar index, which measures the greenback against a basket of currencies, fell 0.06percent to 101.41, after a 0.36percent decline in the prior session. The euro was up 0.12percent at USD1.1241.
The yen strengthened 0.08percent to 158.25 per dollar.
Despite the political shift in the US, expectations for the Federal Reserve’s interest rate path remained largely intact. Markets are pricing in an 81.2percent chance for a rate increase of at least 25 basis points from the Fed at its December meeting, according to CME FedWatch, up from 77.4percent in the prior session.
Oil prices, a key indicator of currency parity, rose nearly USD3 on Thursday as investors weighed the future course of the US-Israeli war with Iran after President Donald Trump’s Republican Party suffered heavy losses in midterm elections this week.
Brent futures were up USD2.94, or 3.11percent, at USD97.56 a barrel as of 1417 GMT, while US West Texas Intermediate crude futures rose USD1.73, or 1.96percent, to USD89.85.
Open-market movement
In the open market, the PKR gained 2 paise for buying and 1 paisa for selling against USD, closing at 277.33 and 278.47, respectively.
Against Euro, the PKR gained 5 paise for buying and 3 paise for selling, closing at 311.32 and 314.20, respectively.
Against UAE Dirham, the PKR gained 4 paise for buying and 3 paise for selling, closing at 75.54 and 76.15, respectively.
Against Saudi Riyal, the PKR gained 4 paise for buying and 2 paise for selling, closing at 73.88 and 74.42, respectively.
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Open Bid Rs 277.33
Open Offer Rs 278.47
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday
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Open Bid Rs 276.67
Open Offer Rs 276.87
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RUPEE IN LAHORE: The Pakistani rupee weakened against the US dollar while remaining largely stable versus the British pound in the local currency market on Thursday.
At the closing bell, the rupee’s buying rate against the US unit was quoted as Rs 277.00 compared with Wednesday’s Rs 276.50 while selling value was unchanged at Rs 279.00.
In comparison to the British pound, the rupee’s respective buying and selling rates closed at Rs 372.80 and Rs 375.50 against preceding day’s rates at Rs 372.73 and Rs 376.00.
Copyright Business Recorder, 2026
