The Pakistani rupee strengthened against the US dollar, appreciating 0.04% during the opening minutes of trading in the inter-bank market on Monday. At 10am, the local currency was hovering at 280.05, a gain of Re0.12 against the greenback. During the previous week, the Pakistan rupee posted a marginal gain as it appreciated by Re0.08 or 0.03% against the US dollar in the inter-bank market. The local unit closed at 280.17 , against 280.25 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP). Internationally, the Japanese yen recovered some ground on Monday following a steep drop at the end of last week as markets weighed the timing of more interest rate hikes in Japan and the possibility of intervention in thin end-of-year trading. Bank of Japan policymakers debated the need to continue raising rates, a summary of opinions at their policy meeting in December showed on Monday. The euro was supported after US President Donald Trump signalled optimism in talks to reach a peace deal to end the war in Ukraine. Japan has a free hand in dealing with excessive moves in the yen, Finance Minister Satsuki Katayama said last week. Those intervention warnings have helped keep a lid on dollar-yen positions, but pessimism about Japan’s currency is showing up in other foreign exchange crosses, said Bart Wakabayashi, Tokyo branch manager at State Street. The yen strengthened 0.3% against the greenback to 156.13 per dollar after a 0.5% slide on Friday. The dollar index, which measures the greenback against a basket of currencies, fell 0.1% to 97.96. The euro advanced 0.1% to $1.1780. Oil prices , a key indicator of currency parity, rose on Monday as investors weighed Middle East tensions that could disrupt supply, while a major hurdle remains in the Russia–Ukraine peace talks. Brent crude futures rose 56 cents, or 0.92%, to $61.20 per barrel at 0236 GMT, while US West Texas Intermediate crude was up 51 cents, or 0.9%, to $57.25. Both benchmark prices fell more than 2% on Friday as investors weighed a looming global supply glut and the possibility of a Ukraine peace deal ahead of weekend talks between Ukrainian President Volodymyr Zelenskiy and US President Donald Trump. This is an intra-day update