The Pakistani rupee posted a marginal gain against the US dollar in the inter-bank market on Monday.
At the close of trading, the local currency settled at Rs278.40 per dollar, appreciating by one paisa compared to Friday’s closing rate of Rs278.41.
Meanwhile, the US dollar remained near a two-month high in global markets after stronger-than-expected US employment data boosted expectations that the Federal Reserve could raise interest rates later this year.
Currency markets showed limited movement overall, despite broader volatility in financial markets, where a sell-off in technology stocks weighed on investor sentiment across Asia. The greenback maintained its recent gains after data revealed that nonfarm payrolls in the United States increased by 172,000 jobs last month, significantly surpassing market forecasts.
The stronger dollar pressured major currencies. The euro slipped to a two-month low of $1.1507, while the British pound traded near a three-week low at $1.33165.
Similarly, the Australian and New Zealand dollars fell to their weakest levels in two months, touching $0.7016 and $0.5779, respectively, as investors continued to favor the US currency following the robust jobs report.
Below are the latest forex rates from both the open market and interbank.
