KARACHI: The Pakistani rupee appreciated by Rs0.50 paisa against the US dollar in the intraday trading on Monday.
According to forex dealers, the greenback currently trading at Rs166.60 against the domestic currency at the interbank foreign exchange market.
Meanwhile, the dollar was set for a fourth straight month of losses on Monday after a US Federal Reserve policy shift on inflation, while the euro was poised to post a fourth month of gains, taking both currencies to levels last seen in 2018.
Against a basket of currencies =USD the dollar rose 0.1% higher to 92.356 in early trading in Europe and is down 1.2% for the month.
The euro EUR=EBS was steady at $1.1903 and on track for a 1% monthly gain, which would be its fourth straight month of increases.
The yen JPY=EBS eased by about 0.4% in Asia to 105.77 per dollar, having climbed as far as 104.195 on Friday in the wake of Shinzo Abe’s resignation as prime minister for health reasons.
