Rupee sees minor fall against US dollar

ISLAMABAD: The Pakistani rupee saw a marginal decline against the US dollar as it depreciated 0.02 percent during the opening hours of trading in the inter-bank market on Monday.

At 11am, the rupee was hovering at 280.64, a decrease of Re0.07 in the inter-bank market.

Share market opens on a positive note

During the previous week, the rupee declined against the US dollar as it closed 0.63 percent or Rs1.77 lower in the inter-bank market.

The local currency started the week at 278.80 level, but closed on Friday at 280.57.

In a related development, remittances inflows are likely to be back on track with a decent growth from Gulf countries as the local currency marked a significant comeback against the US dollar in the inter-bank and open markets in the last few weeks, according to experts.