The Pakistani rupee registered marginal improvement against the US dollar, appreciating 0.06% during the opening hours of trading in the inter-bank market on Thursday.
At 10am, the local unit was hovering at 278.22, a gain of Re0.18 against the greenback.
On Wednesday, the rupee had closed at 278.40 after a gain of Re0.10.
In recent weeks, the domestic currency has largely been around 277-279 against the dollar as Pakistan moves forward with its plan to win a longer and larger International Monetary Fund (IMF) bailout programme.
In a key development, the National Assembly approved 117 demands for grants worth Rs6.87 trillion to meet expenditures of various federal ministries and their departments during the financial year ending June 30, 2025 by rejecting all the cut motions of opposition.
Globally, the yen languished near a 38-year low on Thursday and struggled on the weaker side of 160 per dollar, keeping markets on alert for any signs of intervention from Japanese authorities to prop up the currency.
In the broader market, the dollar was on the front foot and stood near an eight-week high against a basket of currencies, helped in part by a weaker yen and as it rose in step with US Treasury yields.
The dollar index meanwhile hovered near a roughly two-month high and steadied at 106.05, drawing support from elevated US Treasury yields.
Oil prices, a key indicator of currency parity, dipped on Thursday as a surprise build in US stockpiles fuelled fears about slow demand from the world’s top oil consumer, though declines were capped by worries a potential expansion of the Gaza war may disrupt Middle East supplies.
Brent crude oil futures fell 28 cents, or 0.3%, to $84.97 a barrel by 0310 GMT.
US West Texas Intermediate crude futures dropped 31 cents, or 0.4%, to $80.59 per barrel. Both benchmarks had settled slightly higher on Wednesday.
This is an intra-day update
American Dollar Exchange Rate