Intra-day update: rupee registers gain against US dollar

The Pakistani rupee strengthened against the US dollar, appreciating 0.07% during the opening hours of trading in the inter-bank market on Monday. At 10:20am, the local currency was hovering at 280.90, up by Re0.2 against the US dollar. During the previous week, the Pakistan rupee gained Re0.07 or 0.02% against the US dollar in the inter-bank market. The local unit closed at 281.10, against 281.17 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP). Internationally, the Japanese yen weakened against the US dollar on Monday as Sanae Takaichi, an advocate of fiscal and monetary stimulus, appeared all but certain to become Japan’s next prime minister after reportedly securing crucial political backing for the top job.