KARACHI: The Pakistani rupee remained largely stable against the US dollar on Thursday, showing a slight depreciation of 0.01% in the inter-bank market.

The currency closed at 277.94, a marginal loss of Re0.02 compared to Wednesday's settlement of 277.92, according to the State Bank of Pakistan (SBP). In the open market, the rupee weakened by 9 paise for buying and 11 paise for selling, closing at 277.16 and 278.91, respectively. The rupee also lost 48 paise for buying and 42 paise for selling against the euro, settling at 290.57 and 292.77, respectively. Against the UAE Dirham, the rupee depreciated by 4 paise for buying, closing at 75.45, while it remained unchanged for selling at 76.00. Similarly, the rupee lost 2 paise for buying against the Saudi Riyal, closing at 73.68, with no change for selling at 74.20. Globally, the euro faced pressure following concerns over the collapse of the French government, trading at $1.0514, near its two-year low. Meanwhile, the South Korean won remained steady. Investor confidence in a potential rate hike by the European Central Bank in December was also noted. In the U.S., the dollar index stood at 106.31, as investor expectations for a rate cut remained intact, despite mixed economic data. Oil prices saw slight increases, with Brent crude rising by 0.5% to $72.70 per barrel, ahead of the OPEC+ meeting, which may influence currency movements.