The Pakistani rupee appreciated against the US dollar. According to sources, at the start of trading in the interbank market on Monday, the rupee gained 0.08 percent in value. By 12:00 noon, the local currency was trading at 279.80, marking a gain of Rs 0.22 against the dollar.
During the previous week as well, the Pakistani rupee recorded a slight appreciation, strengthening by Rs 0.09 or 0.03 percent against the US dollar in the interbank market. According to the State Bank of Pakistan, the local currency closed at 280.02 at the end of the week, compared to 280.11 a week earlier.
On the international front, the US dollar retreated on Monday from its strongest level in a month. The dollar index, which measures the US currency against six major currencies, fell by 0.3 percent to 98.899, ending a five-day streak of gains.
