Intra-day update: rupee registers gain against US dollar

The Pakistani rupee continued to gain further ground against the US dollar, appreciating 0.07% during the opening hours of trading in the inter-bank market on Monday. At 10am, the currency was hovering at 280.62, a gain of Re0.2 against the greenback. During the previous week, the Pakistani rupee posted marginal gain as it appreciated by Re0.09 or 0.03% against the US dollar in the inter-bank market. The local unit closed at 280.82, against 280.91 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP). Internationally, the US dollar softened on Monday as signs that the federal government could soon reopen buoyed investor confidence after a string of weak economic data. The dollar index, which tracks the greenback’s strength against a basket of six major currencies, slid 0.1% to 99.643 after the Senate voted to advance a measure that could fund the US government through January.