USD to PKR rate down by Re0.50 to Rs281 in open market on Monday

KARACHI: The exchange rate for the US dollar in Pakistan increased by 50 paise, reaching Rs281 in the open market on Monday.

According to the Exchange Companies Association, the previous closing rate for the dollar in the open market was Rs280.50. Additionally, in the interbank market, the US dollar saw a rise of 32 paise, closing at Rs279.12, up from Rs278.80.

The Pakistani rupee experienced a minor decline of 0.11% against the US dollar in the interbank market.

On a global scale, the Japanese yen briefly weakened to 150 per dollar in Asia on Monday.

This temporary shift occurred as investors, who were anticipating an increase in US dollar yields, were counteracted by those expecting that Japanese authorities might intervene in the currency markets.