The Pakistani rupee posted a marginal gain against the US dollar on Tuesday, September 29, closing at Rs277.12 in the interbank market. It strengthened by about three paisa, or 0.01%, from Monday’s close of Rs277.15. The move extended the local currency’s recent gains, although the day’s change was small.

Global currency markets traded cautiously on Thursday as investors assessed rising oil prices, higher bond yields and upcoming US inflation data. Energy-driven inflation concerns pushed benchmark 10-year US Treasury yields to their highest level since 2023. The dollar gained modest support, weakening the euro to $1.1633 and sterling to $1.3547. The yen paused its strong rally and traded near 153.70 per dollar after touching seven-month highs, ahead of an anticipated Bank of Japan rate increase. The dollar index edged up to 98.81, recovering slightly from a three-week low. Broader Asian currencies also weakened as oil prices increased.

The Japanese yen held firm at 158.88 per US dollar on Thursday after a sudden 0.9% surge fuelled speculation about possible official intervention. The stronger yen pressured the dollar ahead of a crucial US jobs report, with the dollar index easing 0.04% to 99.56. The euro edged up to $1.1589, sterling recovered to $1.3482, while the Canadian dollar held at C$1.3836 after the Bank of Canada maintained interest rates.