The Pakistani rupee saw a slight improvement against the US dollar, gaining 0.08% during the initial trading hours of the inter-bank market on Monday.
By 11 a.m., the rupee was trading at 280, up by Re0.21 compared to the previous value of the dollar.
In the prior week, the rupee had depreciated further against the greenback, falling by Re0.24, or 0.09%, in the inter-bank market.
The local currency ended the previous week at 280.21, compared to 279.97 the week before, as reported by the State Bank of Pakistan (SBP).
Globally, the US dollar remained near a five-month low against major currencies on Monday, impacted by President Trump’s unpredictable trade policies and weak economic data.
Meanwhile, the Pakistan Stock Exchange (PSX) continued the bullish trend on Monday, and the benchmark KSE-100 index gained over 700 points during early day trading.
In the international market, the oil prices once again surged due to conflict in the US and the Yemeni rebel group.
