KEY POINTS
- Interbank rupee gains marginally, closing at Rs 280.46 per US dollar
- Open-market rates show a similar trend with slight appreciation.
- The US dollar is broadly stable amid muted global cues.
- Oil prices and global risk sentiment influence currency movements
ISLAMABAD: The Pakistani rupee edged up slightly against the US dollar on Wednesday, according to State Bank of Pakistan data, with the interbank rate closing at Rs 280.46, gaining 0.01 from Tuesday’s Rs 280.47.
Exchange Companies Association of Pakistan data indicated a similar trend in the open market, with the local currency strengthening marginally against the greenback.
Analysts said the greenback remained largely unchanged internationally, as investors weighed the outlook for US interest rates in 2026.
Market participants also cited higher oil prices and improved sentiment in risk assets as supporting factors for the rupee’s modest appreciation.
In the global market, in morning trade, the Australian dollar touched a three-week high at $0.6576 before retreating slightly.
The euro cleared its 50-day moving average and traded at $1.1629 in early Asian sessions. Other currencies, including the Japanese yen, sterling, and New Zealand dollar, were largely steady.
Oil prices climbed over 1 per cent after Russia-US talks on Ukraine failed to yield a compromise, lifting Brent crude to $63.23 per barrel and US West Texas Intermediate to $59.49.
