The Pakistani rupee strengthened against the US dollar, appreciating 0.06% during the opening minutes of trading in the inter-bank market on Tuesday.
At 10:05am, the local currency was hovering at 280.15, a gain of Re0.16 against the greenback.
On Monday, the local unit closed at 280.31.
Internationally, the US dollar sagged to near a two-month low at the start of the Asian trading session on Tuesday as markets awaited the release of a slew of economic data, including the delayed November US jobs report.
The dollar index, which measures the currency’s strength against a basket of six key rivals, was down 0.2% at 98.261, approaching the lowest levels since October 17.
The Bureau of Labour Statistics will release its long-awaited combined employment reports for October and November later, following delays to data collection during the longest US government shutdown in history. Meanwhile, a raft of preliminary manufacturing indicators is also due for release.
Fed funds futures are pricing an implied 75.6% probability of a hold in rates at the US central bank’s next meeting on 28 January, unchanged from a day earlier, according to the CME Group’s FedWatch tool.
Against the yen, the US dollar eased 0.1% to 155.07 yen, as traders braced for the BOJ’s decision on Friday.
Oil prices, a key indicator of currency parity, fell in early trading on Tuesday, adding to the losses from the previous session, as prospects for a Russia-Ukraine peace deal appeared to strengthen, raising expectations of a potential easing of sanctions.
Brent crude futures fell 24 cents, or 0.40%, to $60.32 a barrel by 0101 GMT, and US West Texas Intermediate crude was trading at $56.60 a barrel, down 22 cents, or 0.39%.
This is an intra-day update
American Dollar Exchange Rate