Rupee records gain against US dollar

On Monday the local currency edged up against the greenback and finished at 277.55, according to Business Recorder. Compared with Friday's close of 277.56, the move amounted to Rs0.01, a slim advance that still tilts the tone slightly in the rupee's favour.

Abroad, the dollar hovered close to multi-month lows as markets absorbed the US Treasury's pledge to repurchase additional long-dated bonds. It also suffered its steepest weekly decline against bitcoin in almost three and a half years on Sunday, while falling sharply against gold on worries that Washington may try to cap yields.

Other currencies moved as well: the Canadian dollar eased 0.2% to C$1.3798 per dollar after trade negotiations with the US broke down and Washington levied 50% duties on Canadian goods, prompting Canada to respond in kind. The Australian and New Zealand dollars hovered near three-month peaks at $0.7171 and $0.5979, while the euro held above $1.16 at $1.1685 and the yen stayed on the stronger side of 159 per dollar. Oil prices also dipped, with Brent futures sliding $1.23, or 1.3%, to $93.16 by 0329 GMT and WTI down $1.36, or 1.6%, at $85.7 a barrel.