In the interbank market on Monday, the Pakistani rupee recorded an appreciation against the US dollar.
At the close of trading, the rupee strengthened by one paisa, settling at 280.41 against the dollar.
Last week as well, the rupee had appreciated by 10 paisa, or 0.04%, closing at 280.52 against the US dollar.
Globally, the US dollar remained steady on Monday after two weeks of selling pressure, ahead of a week filled with multiple central bank meetings—led by the US Federal Reserve, where a rate cut is considered almost certain. However, differing views within the committee have introduced an element of uncertainty.
The euro, which has been trading within a relatively narrow range since June, stood at 1.1644 dollars. The yen, which stabilized after a decline in November, was trading at 155.28 per dollar.
