Rupee records gain against US dollar

The Pakistani rupee registered marginal gain against the US dollar, appreciating 0.01% in the inter-bank market on Tuesday. At close, the local currency settled at 279.52, a gain of Rs 0.03 against the greenback. On Monday , the local currency closed at 279.55 against the dollar, according to the State Bank of Pakistan (SBP). Meanwhile, the yen weakened on Tuesday as markets weighed the fallout on global trade from renewed turbulence over US President Donald Trump’s tariff regime . The dollar index, which measures the greenback against a basket of currencies, rallied 0.2% to 97.90. The euro slid 0.14% at $1.1768, while the yen sank 0.4% to 155.27 per dollar. Sterling fell 0.08% to $1.3478. The greenback clawed back losses as China and Japan reopened following holidays, and Trump warned countries against retreating from recent trade deals after the Supreme Court struck down his emergency tariffs. The yen dipped after China announced export controls on Japanese companies in a further sign of souring relations. Moreover, oil prices , a key indicator of currency parity, rose on Tuesday, nearing seven-month highs, with traders assessing geopolitical risks ahead of another round of US-Iran nuclear talks , while US trade policy uncertainty added to broader concerns. Brent crude futures rose 59 cents , or 0.8%, to $72.08 a barrel by 0424 GMT, while US crude futures climbed 57 cents, or 0.9%, to $66.88 a barrel. Brent is trading at its highest since July 31, while WTI is at its firmest since August 1.