Rupee gains Rs2 since US-Iran war
Pakistan's rupee has appreciated by around Rs2 against the US dollar since the Middle East war began, maintaining its strength despite rising energy costs, geopolitical uncertainty and higher global yields. The Pakistani rupee, extending its modest upward trend against the US dollar, gained 0.01% in the inter-bank market on Monday and closed at Rs276.97 per dollar. It was up three paisa from Friday's closing rate of Rs277/$. The currency's gradual upward trajectory reflects a policy approach focused on accumulating foreign exchange, containing domestic demand and maintaining monetary restraint rather than relying on currency depreciation to absorb external shocks.