The Pakistani rupee strengthened against the US dollar, appreciating 0.09% during the opening hours of trading in the inter-bank market on Monday.
At 9:50am, the local currency was hovering at 280.76, up by Re0.26 against the US dollar.
During the previous week, the Pakistan rupee gained Re0.08 or 0.03% against the US dollar in the inter-bank market. The local unit closed at 281.02, against 281.10 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
Internationally, the US dollar rose to a more than two-week high against the yen on Monday at the start of a packed week of global trade negotiations and central bank meetings.
US President Donald Trump visits Japan from Monday and will hold a summit the following day with the nation’s new prime minister, Sanae Takaichi.
Soon after, Trump will meet Chinese President Xi Jinping on Thursday, where the pair will decide on the framework of a trade deal that their respective officials hashed out on Sunday.
And while Trump is travelling Asia this week, the US Federal Reserve is widely expected to cut its policy interest rate after moderate inflation figures on Friday.
The dollar strengthened 0.2% to 153.12 against the yen , the highest since Oct. 10.
The dollar index, which measures the greenback against select peers, was little changed at 98.94.
Oil prices, a key indicator of currency parity, rose in early trade on Monday after US and Chinese economic officials sketched out a trade-deal framework, easing fears that tariffs and export curbs between the world’s top two oil consumers could dent global economic growth.
Brent crude futures rose 46 cents, or 0.7%, to $66.40 a barrel by 0027 GMT.
US West Texas Intermediate crude futures rose 46 cents, or 0.75%, to $61.96, after rising 8.9% and 7.7%, respectively, in the previous week on US and EU sanctions on Russia.
This is an intra-day update
American Dollar Exchange Rate