The Pakistani rupee strengthened by 16 paisas (0.06%) against the US dollar, reaching 281.10.
During the previous week as well, the local currency showed a slight improvement, appreciating by 0.11 rupees or 0.04% in the interbank market. According to the State Bank of Pakistan (SBP), the local currency closed at 281.26, compared to 281.37 rupees per dollar the week before.
In the global market on Monday, the Japanese yen saw its biggest drop in five months against the US dollar during early trading. The decline came after Sanae Takaichi won the LDP leadership election over the weekend, paving the way for continued expansionary monetary policy in Japan and creating further challenges for the Bank of Japan.
The yen fell 1.6% to 149.81 yen per US dollar — its largest single-day drop since May 12 — erasing all the gains it had made the previous week.
Meanwhile, with several Asian markets closed due to holidays, the US Dollar Index fell by 0.1% to 98.029.
