Rupee records gain against US dollar

According to Business Recorder, the rupee strengthened slightly against the US dollar in Monday's interbank trading, closing at Rs277.06 after a gain of Rs0.01. Over the previous week the currency had advanced 0.03 per cent, ending at Rs277.07, which was Rs0.09 stronger than the Rs277.16 level of a week earlier. In the open market the rupee firmed further, with the buying rate settling at Rs277.74 and the selling rate at Rs278.93.

Elsewhere, the greenback began the week close to a 17-month peak as investors reassessed the chance of a Federal Reserve rate increase after weak US employment figures. Traders now assign a 78 per cent probability to the Fed keeping borrowing costs unchanged in October, up from 36 per cent a week earlier, according to CME FedWatch data. The euro hovered at $1.1246, near its lowest point since May 2025, after four weeks of losses linked to French debt and political concerns.

Oil prices eased on Monday, with Brent crude down 43 cents at $101.82 a barrel, after Middle East crude exports rose and Group of Seven nations pledged more supply. Price declines were restrained, however, by continuing worries about disruption linked to the US-Israeli war on Iran. Last week's bond sell-off pushed global borrowing costs to multi-decade highs and hit French government debt, as investors worried about inflation from high oil prices.