Pakistani rupee edges up despite firmer US dollar
The Pakistani rupee gained against the US dollar in the inter-bank market. It closed at 280.71, registering a gain of Rs0.01 against the US dollar.
The Pakistani rupee gained 0.07% to Rs280.52 against the US dollar in early Monday inter-bank trading, extending last week’s modest appreciation.
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The Pakistani rupee strengthened slightly in early Monday trading, climbing to Rs280.52 per US dollar in the inter-bank market at approximately 10:20am, marking a gain of Re0.20 or 0.07%.Pakistani Rupee Gains Against US Dollar in Early Trade
The local currency had closed last week at Rs280.72, up from Rs280.82 the prior week – reflecting a gain of Re0.10 or 0.04%.
Although the US dollar firmed globally amid investor anticipation for key US economic data and possible shifts in the Federal Reserve rate outlook, the rupee’s modest appreciation suggests the domestic currency has been resisting broader dollar strength.
