Pakistani Rupee Strengthens Against US Dollar, Closes at Rs 276.65

• The Pakistani rupee gained Re0.01 against the US dollar on Tuesday, closing at Rs276.65 in the interbank market.
• The local currency maintained its gradual upward trend after appreciating 0.03% against the dollar during the previous week.
• Global currency markets remained cautious ahead of US inflation data, while international oil prices declined amid easing concerns over the Iran conflict.

The Pakistani rupee continued its modest recovery against the US dollar on Tuesday, November 10, recording another marginal improvement in the interbank foreign exchange market as the local currency maintained its recent upward momentum.

According to the latest exchange rate figures, the rupee closed at Rs276.65 against the US dollar, appreciating by Re0.01 compared with the previous closing rate of Rs276.66.

Although the daily increase was limited, it extended a series of small gains recorded by the Pakistani currency in recent trading sessions.

During the preceding week, the rupee appreciated by 0.03% against the greenback, strengthening by Re0.09 to close at Rs276.66 compared with Rs276.75 a week earlier, according to State Bank of Pakistan (SBP) data.

The gradual improvement in the exchange rate came as international financial markets responded to changing expectations about US monetary policy, developments in the Middle East and fluctuations in global energy prices.

In international currency markets, the US dollar stabilized during Tuesday’s Asian trading session after experiencing volatility over the preceding days.

Investors remained cautious ahead of the release of US inflation figures, which could influence expectations regarding the Federal Reserve’s next interest rate decision.

Stronger-than-expected inflation data could reinforce expectations of additional US interest rate increases, potentially providing further support to the dollar against major international currencies.

The greenback had weakened earlier as declining crude oil prices and gains in global equity markets encouraged investors to move toward riskier assets.

The Australian dollar, which is particularly sensitive to global trade conditions and investor sentiment, gained nearly 1% during Monday’s trading before stabilizing around $0.6921 in early Asian trade on Tuesday.

Similarly, the New Zealand dollar advanced to approximately $0.5624, maintaining its gains as trading began across Asian markets.

The euro also strengthened against the US currency, rising approximately 0.7% overnight to $1.1220.

The increase reversed losses recorded on Friday, when stronger-than-expected US employment figures boosted the dollar and raised expectations of tighter monetary policy.

Following the recovery, the euro-dollar exchange rate returned to approximately the middle of its trading range over the previous month.

Market sentiment toward the US dollar has shifted considerably during 2026, particularly as geopolitical developments have influenced inflation expectations and central bank policy forecasts.

Earlier expectations that the Federal Reserve would reduce interest rates have increasingly been replaced by predictions of further increases.

The shift followed a surge in global energy prices associated with the US-Israeli conflict involving Iran, which added to inflationary pressures and complicated the outlook for monetary policy.

The latest US employment report further strengthened expectations of higher interest rates.

Figures released on Friday showed that hiring during October exceeded market forecasts by more than double, suggesting continued strength in the American labour market.

Following the employment data, financial markets were pricing in approximately an 85% probability that the Federal Reserve would raise interest rates at its next monthly policy meeting.

Meanwhile, international oil prices declined on Tuesday, extending losses from the previous session as concerns about further military escalation in the Middle East eased.

The decline followed remarks by US President Donald Trump, who indicated that additional military action against Iran was not necessary at the current stage.

His comments reduced immediate concerns about prolonged disruptions to oil supplies from the region, putting downward pressure on crude prices.

Brent crude futures fell by 70 cents, or 0.75%, to $91.88 per barrel by 0246 GMT.

US West Texas Intermediate (WTI) crude futures declined by 78 cents, or 0.90%, to $86.07 per barrel.

Both international oil benchmarks had earlier recorded losses of approximately 1% during the trading session.