At 10:25am, the rupee was trading at Rs279.78, gaining Re0.04 against the dollar.

On Thursday, the rupee had closed at 279.82.

The US dollar wallowed near a four-month low on Friday as ever-shifting tariff policies fanned uncertainty and increased concern about growth prospects for the world’s largest economy, leaving investors grasping for jobs data due later in the day.

Another reprieve of levies aimed at Mexico and Canada announced by US President Donald Trump on Thursday offered little relief, keeping the safe-haven yen not far off its strongest against the greenback since early October.

Against the Swiss franc, the US dollar dropped to a three-month low of 0.8820 franc in early trade.

The greenback also lost some ground against the Canadian dollar and Mexican peso.

Oil prices, an important indicator of currency parity, remained largely unchanged on Friday but are on track for their largest weekly decline since October due to concerns about demand growth amid uncertainty surrounding US tariff policy and anticipated increases in output from major producers.

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Brent futures increased by 17 cents, or 0.24%, reaching $69.63 a barrel by 0315 GMT.

US West Texas Intermediate (WTI) futures rose by 12 cents, or 0.18%, to $66.48 a barrel. Nevertheless, Brent is down 4.9% for the week, marking its most significant weekly drop since October 14.

WTI is also expected to decrease by 4.8%, representing its largest weekly decline since that same week.