Rupee Gains 0.08% to 281.03 in Early Trade

In Pakistan’s inter-bank market, the Pakistani rupee gained 0.08% during early trading, climbing to 281.03 against the US dollar by 10am. This increase of Re0.22 from Monday’s closing rate of 281.25 reflects the rupee’s ongoing relative stability.

Meanwhile, the dollar index, which measures the US dollar against a basket of major currencies, inched up 0.05% to 98.17, signaling the dollar’s resilience amid global market uncertainties.

In Asia, the Japanese yen weakened to a two-month low following Sanae Takaichi’s election as leader of Japan’s Liberal Democratic Party. Her fiscal dove stance sparked expectations of a more accommodative cabinet, contrasting with the hawkish approach of outgoing Prime Minister Shigeru Ishiba.

The euro, however, remained subdued, pressured by the resignation of France’s prime minister and cautious comments from European Central Bank officials hinting at a potential rate cut. The single currency held steady at $1.1705.

These developments highlight a volatile global currency landscape, with the rupee’s modest appreciation standing out as a positive note amid political shifts and policy speculation in international markets.