ISLAMABAD: The rupee appreciated by 0.08% against the US dollar in the interbank market during early trading hours on Monday.
By 10:40 am, the currency was trading at Rs278.50, gaining Rs0.21 against the greenback. This marked a recovery following a slight decline last week when the rupee depreciated by Rs0.13 or 0.05%.
The local currency had closed at Rs278.71 against the dollar the previous week, according to data from the State Bank of Pakistan.
On the stock market front, the Pakistan Stock Exchange (PSX) experienced a significant rally on Monday. The KSE-100 index surged by over 900 points, reaching 116,210.41 at 1:08 PM, as per the PSX website.
In the cryptocurrency market, Bitcoin reached a record high above $109,000 on Monday.
Also Read: Pakistan stock market gains over 900 points in intraday
The surge came as Donald Trump, who has expressed intentions to deregulate the cryptocurrency sector, prepared for his inauguration as the U.S. president.
Bitcoin climbed to an all-time high of $109,241 before slightly retreating to $107,765 around 7:40am GMT.
