KARACHI: Rupee remained largely stable against dollar, depreciating 0.01 percent in interbank market.

At close, domestic unit settled at 277.66, loss of 0.02 paisa against greenback. In interbank market rate for dollar for bid was to Rs 277.66 and for offer it was to Rs 277.86. In open market movement, unit gained 29 paisa for buying and 10 paisa for selling against dollar, closing at 277.86 and 279.35, respectively. Against Euro, unit gained 40 paisa for buying and 38 paisa for selling, closing at 301.45 and 304.30, respectively. Against UAE Dirham, it gained 3 paisa for buying and remained for selling, closing at 75.25 and 75.97, respectively. Against Saudi Riyal, unit gained 2 paisa for both buying and selling, closing at 73.45 and 74.11, respectively. Globally, dollar extended its gains in early Monday trades in Asia as holiday in Japan sapped liquidity, leaving China’s somewhat disappointing weekend stimulus announcements the focus of market attention. Dollar index was at 103.10, up touch and closing in on last week’s peak, its highest since mid-August, on back of traders reducing bets on further jumbo rate cuts by Federal Reserve.

Oil prices, key indicator of currency parity, on Monday wiped out all of last week’s gains as China’s stimulus plans failed to inspire confidence among investors. Brent crude futures were down $ 1.35, or 1.7 percent, at $ 77.69 per barrel, while US West Texas Intermediate crude futures fell $ 1.32, or 1.75 percent, to $ 74.24 per barrel.