Business Recorder
The Pakistani rupee appreciated 0.01% against the US dollar in the inter-bank market on Monday. At close, the local currency settled at 278.47, a gain of Re0.03 against the greenback. On Friday , the local unit closed at 278.50. Meanwhile, the US dollar held steady on Monday after a weekly loss. The dollar index of the greenback against a basket of currencies including the yen and the euro, was flat at 99.00, after last week’s drop of 0.4%. The euro fell 0.08% to$1.165. The yen weakened 0.08% to 159.41 per dollar. Sterling slipped 0.07% to $1.3449. Moreover, oil prices rose more than 2% on Monday after Iran and the US traded strikes and Israel ordered troops to move further into Lebanon in the battle with the Tehran-backed Hezbollah militant group. US crude futures rose $2.29 or 2.62% to $89.65 a barrel as of 0436 GMT. Brent futures rose $2.05 or 2.25% to $93.17 a barrel.
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