The rupee appreciated by 18 paise against the dollar in the interbank market on Monday, insiders said as the market begins a new week, three days after the country went to polls.

The dollar was trading at Rs279.10 in the early morning trade, they added, against the previous closing of Rs279.28.

The rupee gained six paise, or appreciated by 0.02%, on Friday, according to the State Bank of Pakistan.

Total liquid foreign reserves held by the country stood at $13.10 billion as of February 02, 2024, the central bank said.

Many are of the view that elections would bring stability to the country. The provisional results by the Election Commission of Pakistan showed that independents have secured majority of the National Assembly seats.