The Pakistani rupee appreciated by seven paisa or 0.03% against the US dollar in the inter-bank market during the opening hours of trading on Monday.
At 10:30 am, the rupee was hovering at 279.50, a gain of Re0.07 against the greenback.
During the previous week, the rupee depreciated against the US dollar as it lost Re0.36 or 0.13% in the inter-bank market.
The local unit closed at 279.57, against 279.21 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
An International Monetary Fund (IMF) mission would arrive in Islamabad in early to mid-March for discussions on the first review under Pakistan’s Extended Fund Facility (EFF) programme.
Internationally, the US dollar was pinned at 149.36 yen, having shed 2% last week to threaten chart support at 148.65.
On the other hand, the Pakistan Stock Exchange (PSX) opened in Red on Monday morning and the benchmark KSE-100 index dropped over 300 points soon after the trading started.
