The local currency was trading close to 281.20, reflecting an appreciation of 0.17 rupees against the US dollar.
During the previous week as well, the Pakistani rupee showed slight improvement against the dollar, closing at 281.37 in the interbank market, up by 0.09 rupees or 0.03 percent. According to the State Bank of Pakistan, the rupee had closed at 281.46 the week before.
Globally, the US dollar remained in a defensive position on Monday as investors awaited key US economic reports that could provide further clarity on the Federal Reserve’s interest rate stance, while concerns over a potential US government shutdown also drew attention.
In the early Asian session, currency markets showed little movement. However, the dollar lost some of last week’s gains, which had been driven by reduced expectations of a Fed rate cut.
Against the yen, the US dollar slipped 0.2 percent to 149.24, after gaining more than 1 percent against the Japanese currency last week. The euro edged up 0.15 percent to reach $1.1717, while the British pound rose 0.11 percent to $1.3418.
