By 10:30am, the rupee was trading at 279.50, reflecting a gain of Re0.07 against the dollar.

Three days back, the rupee was trading at Rs279.45, which showed an increase of Re0.01 against the dollar. On Thursday, it had closed at 279.46.

The local currency had closed at Rs279.47 on Wednesday.

A technical delegation from the International Monetary Fund will begin discussions in Islamabad on Monday (today) regarding Pakistan’s request for over $1 billion in additional funding to strengthen climate resilience.

The US dollar was stable at 149.36 yen in the international market, having fallen 2% last week and approaching chart support at 148.65.

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Rupee strengthens against dollar in interbank market

Rupee gains against dollar in interbank

The US dollar index decreased by 0.3% to 106.210, reflecting losses against the euro, sterling, and Swiss franc.

Oil prices, an important indicator of currency parity, declined in early trading on Monday, continuing last week’s losses. This drop is attributed to the potential resumption of exports from Kurdistan’s oilfields, while investors are seeking clarity on negotiations to resolve Russia’s war in Ukraine.