Business Recorder
The Pakistani rupee registered marginal gain, appreciating 0.01% against the US dollar in the inter-bank market on Monday. At close, the local currency settled at 279.07, a gain of Re0.03, against the greenback. On Friday , the local unit closed at 279.10. Meanwhile, the US dollar was steady on Monday, while the yen flirted with the crucial 160 per dollar level as nervous investors took stock of the escalating Iran war. The euro eased 0.13% to $1.151 in early trading, while sterling last fetched $1.3187. The dollar index, which measures the US currency against six rivals, was at 100.2. The Australian dollar was 0.13% higher at $0.6893, wobbling near the two-month low it hit last week. Additionally, oil prices were little changed in choppy trade on Monday. Brent crude futures rose 73 cents, or 0.7%, to $109.76 a barrel at 0338 GMT. US West Texas Intermediate crude futures were trading 26 cents lower, or 0.2%, at $111.28 per barrel. The pricing moves in Asia trading on Monday were dwarfed by an 11% surge for WTI and an 8% rise for Brent during the previous trading session on Thursday, the biggest absolute price increase since 2020.
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