The Pakistani rupee extended its upward momentum in the interbank market on Monday. In early trading, the rupee appreciated by 20 paisa (0.07%), reaching Rs. 280.62 against the US dollar.
On Friday, the rupee had closed at Rs. 280.82, gaining 9 paisa (0.03%).
Global Dollar Weakens on Improved U.S. Outlook
Internationally, the US dollar softened on Monday as weaker economic data and expectations of an early end to the U.S. government shutdown boosted investor confidence.
The US Dollar Index slipped 0.1% to 99.643 after the Senate advanced a measure to fund the federal government until January—raising hopes that the historic shutdown could end soon.
On prediction exchange platforms, the probability of the shutdown ending before November 15 surged to 92%.
Currency Movements Worldwide
The dollar gained 0.2% against the Japanese yen, climbing to 153.80, following statements from Japanese Prime Minister Sanae Takaichi about establishing a new multi-year fiscal target, which signaled reduced commitment to fiscal tightening.
Traders also assessed the economic implications of U.S. President Donald Trump’s policies, which triggered a production rush ahead of new import tariffs expected earlier this year.
The euro dipped 0.1% to $1.1559, while the British pound (sterling) traded at $1.3148.
The offshore Chinese yuan remained stable at 7.1204 per dollar, showing little movement in Asian trading hours.
