Pakistani rupee posts slight gain against US dollar

KARACHI: In the interbank market, the Pakistani rupee continued its rise versus the US dollar on Monday. It advanced 0.01% and closed at 278.67.

The exchange rose Rs. 0.03 throughout the trading period. It closed at 278.70 on Friday, thus recording a small gain over the prior trading day.

On the other hand, the US dollar strengthened against the world’s leading currencies in the Asian session. The euro fell 0.2% to $1.1757, whereas the Japanese yen retreated 0.3% to 157.155 per dollar.

Moreover, the British pound fell 0.3% to $1.3590. Similarly, the Australian dollar fell 0.2% to $0.7229, while the New Zealand dollar fell 0.3% to $0.5948.

Furthermore, traders responded to the signals from the US Federal Reserve. It held its key interest rate constant last month. Nonetheless, an internal dispute occurred as three members opposed the projected interest rates going forward.