Rupee edges up to 276.80 against dollar in interbank trade on 27 October

The Pakistani rupee gained marginally against the US dollar in the interbank market on Tuesday, 27 October, Business Recorder reported. The local unit closed at 276.80, up Re0.01 from Monday's close of 276.81.

In the open market in Karachi, the US dollar was being bought at Rs277.45 and sold at Rs280.15, according to Daily Pakistan. The UK pound was quoted at Rs370.95 for buying and Rs375.13 for selling, and the euro at Rs311.49 for buying and Rs315.99 for selling.

The UAE dirham was available at Rs75.5 for buying and Rs76.35 for selling. The Saudi riyal, followed closely by Pakistanis working in Saudi Arabia and by families receiving remittances, was bought at Rs73.80 and sold at Rs74.40.

Among other currencies in the same list, the Kuwaiti dinar had a buying rate of Rs881.35 and a selling rate of Rs892.50, the highest in the list. The Bahraini dinar was at Rs734.95 and Rs746.98, and the Omani riyal at Rs719.85 and Rs731.83. The Canadian dollar was quoted at Rs196.68 and Rs204.59, and the Australian dollar at Rs193.23 and Rs200.41.

The Associated Press of Pakistan published rates issued by the National Bank of Pakistan on Tuesday. The US dollar was listed at 278.59 for selling and 275.59 for buying, and the British pound at 371.75 in the first figure given.

On the international front, Business Recorder said the dollar index held steady near a one-week high at 102.04 on Tuesday. It linked this to a tech-led rebound on Wall Street that revived appetite for risk, while investors awaited megacap earnings and the US midterm elections.