Rupee closed at 283.85, a decrease of Re 0.26 in comparison to the US dollar.
The Pakistani rupee weakened against the US dollar, settling with a marginal depreciation of 0.09% during the trading session on Monday.
According to the State Bank of Pakistan (SBP), the local currency closed at 283.85, a decrease of Re0.26.
In comparison to the dollar, the value of the rupee had increased by 0.08% over the course of the previous week.
In spite of a current account surplus and an impending rescue plan with the International Monetary Fund (IMF), the currency had trouble finding its footing and moving in any particular direction.
Globaly, after falling last week when the Federal Reserve hinted at an end to the US rate increase cycle, the US dollar was taking a breather on Monday as traders turned their attention to US inflation and bank lending data for the coming week.
In spite of stronger-than-expected US employment data posted on Friday, interest rate futures are pricing in around a one-third possibility of a rate cut as soon as July, according to the CME FedWatch tool.
Last week was the second in a row that the US dollar index fell, falling by around 0.4%