Karachi: Rupee registered minor improvement, appreciating 0.05 percent or 0.10 paisa to close at 278.44 against dollar in interbank market.

In interbank market rates for dollar for bid were to Rs 278.44 and for offer they were to Rs 278.64. In open market movement, unit gained 0.02 paisa for buying and 10 paisa for selling against dollar, closing at 279.38 and 280.30, respectively. Against Euro, unit lost Rs 1.21 for buying and Rs 1.37 for selling, closing at 306.97 and 308.58, respectively. Against UAE Dirham, it lost 02 paisa for buying and gained 03 paisa for selling, closing at 75.89 and 76.32, respectively. Against Saudi Riyal, it lost Re 1 for buying and gained Rs 3 for selling, closing at 74.09 and 74.52, respectively. Globally, dollar declined broadly on Monday and slid against yen in particular as investors bet on dovish tone emerging in Federal Reserve’s July policy meeting minutes and Chair Jerome Powell’s upcoming speech at Jackson Hole. Against basket of currencies, dollar lost 0.24 percent to 102.21, not far from seven-month low of 102.15. Traders have fully priced in 25-basis-point rate cut from Fed in September, with 24.5 percent chance of 50 bp move .Oil prices, k ey indicator of currency parity, eased in early Asian trading on Monday as fears of weaker demand in top oil importer China weighed on market sentiment while investors focus on progress of ceasefire talks in Middle East, which could reduce supply risks.