Rupee remains flat against dollar

Business Oct, 24 2024
Rupee remains flat against dollar
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KARACHI: Rupee remained unchanged against dollar in interbank market. At close, domestic unit settled at 277.73, gain of 0.01 paisa against greenback.

In open market, unit showed no any significant change in value on lackluster session.  Internationally, dollar hovered at 2-1/2-month peak on Wednesday as investors adjusted bets toward gradual reduction of interest rates while keeping an eye on close presidential election race.

Oil prices, key indicator of currency parity, fell on Wednesday after industry data showed US crude inventories swelled more than expected, though crude futures were still up about 3 percent this week as traders factored in continuing conflict in Middle East. Brent crude futures dropped 73 cents, or 1 percent to $ 75.31 a barrel. US West Texas Intermediate crude futures shed 74 cents, also 1 percent to $ 71.00 a barrel.

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