Rupee registers gain against US dollar

The rupee strengthened slightly against the dollar on Friday, according to Business Recorder, closing the interbank session at 277.32. That was a gain of Re0.03 from the 277.35 level recorded on Thursday, equal to 0.01%. The day's move was modest, leaving the currency close to its previous level.

Abroad, the US dollar index, which tracks the greenback against six currencies, traded at 99.081 after rising 0.3% on Thursday to its loftiest reading since 7 September. Data showed that US producer prices climbed 0.4% in August, matching forecasts, as energy costs rebounded.

Crude benchmarks added to the global picture: Brent rose 0.8% to $108.44 a barrel and US WTI climbed to $103.17. Both had gained more than 6% on Thursday and were heading for a weekly rise of nearly 13%, driven by concerns over attacks on Middle East shipping routes.