The Pakistani rupee continued its marginal gains against the US dollar in the interbank market on Monday.
The local unit closed the day at 276.90, a gain of Re0.01 against the greenback.
During the previous week, the Pakistani rupee continued its marginal gain against the US dollar, appreciating 0.03% in the interbank market. The local unit closed at 276.91 against the greenback, a gain of Re0.09 from 277.00 it had closed at a week earlier.
Internationally, the US dollar edged up from near its lowest levels of the month at the start of trading in Asia on Monday as violent protests in France put pressure on the euro.
The euro fell 0.1% to $1.1225 as trading began in Asia. The biggest weighting in the dollar index, the common currency’s drop helped steady the greenback, which traded level at 101.83.
Against the yen, the US dollar was flat at 158.00 yen as Bank of Japan Governor Kazuo Ueda said on Monday underlying inflation is “quite close” to the central bank’s 2% target.
The US dollar was flat at 6.6842 yuan in offshore trade ahead of the release of Chinese GDP data for the third quarter. China’s economy is expected to have sped up slightly in the period from a more than three-year low.
In emerging market Asia, much of the focus will be on the Indonesian rupiah following a threat from MSCI to downgrade the country’s stock market to “standalone” status last week, which triggered a 11.6% collapse in equities.
Oil prices, a key indicator of currency parity, slipped from a five-month high on Monday as investors took profits after US President Donald Trump waived sanctions and tariffs on Russia that may lead to more Russian fuel exports.
Brent crude futures fell $2.29, or 2.08%, to $107.57 a barrel by 0619 GMT after settling at its highest since May 19 on Friday. US West Texas Intermediate crude was at $99.46 a barrel, down $1.95, or 1.92%, after closing at its highest since September 17 on Friday.