Intra-day update: rupee gains against US dollar

The Pakistani rupee gained against the US dollar, appreciating 0.06% during Monday’s opening hours of trading in the inter-bank market. At 10:10am, the currency was hovering at 281.10, a gain of Re0.16 against the greenback. During the previous week, the Pakistan rupee posted a marginal gain as it appreciated by Re0.11 or 0.04% against the US dollar in the inter-bank market. The local unit closed at 281.26, against 281.37 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP). Internationally, the yen tumbled against the US dollar by the most in five months in early Monday trading after Sanae Takaichi won the LDP leadership election over the weekend. This set the country on course for more expansionary fiscal policy and complicated the task facing the Bank of Japan.