KARACHI: The Pakistani rupee Monday strengthened against the US dollar in cash-free market and remains steady in interbank.
As per the local currency market, the greenback shed 5 paisas in open market to be traded at 104.75 and remained firm in interbank at 104.10. On Friday, the US dollar shed 90 paisas in open market to reach 104.80 and remained unchanged in interbank at 104.10.
Meanwhile, the dollar broadly weakened against its Asian peers on Monday, fuelled by persistent worries over China’s economy ahead of a crucial US interest rate decision later this week.
Nervous traders moved into safer assets, pushing up the Japanese currency to 120.30 yen against the dollar, compared with 120.57 yen Friday in New York. The yen is considered a safe bet in times of turmoil. The euro was at 136.55 yen compared with 136.64 yen, and rose to $1.1341 from $1.1333 in US trade.
