Rupee registers gain against US dollar

Business Recorder reported that the rupee added to its marginal gains on Monday, gaining 0.01% against the US dollar. The currency finished the session at 277.47, improving Rs0.03, having stood at 277.50 on Friday.

Globally, the dollar stayed near a two-week high as investors increased their wagers on a Federal Reserve rate increase following hawkish remarks by Chair Kevin Warsh. The yen slipped back below the 160-per-dollar mark, while the euro rose 0.1% to $1.1591 and sterling showed little movement at $1.3539.

The dollar index, which measures the greenback against six major currencies, eased to 99.6 but was still heading for a second straight monthly fall. Earlier this month, US Treasury bond buyback plans had revived debasement trades. Oil prices also gained on Monday, with Brent futures up $2.21 to $90.31 per barrel by 0436 GMT.