The Pakistani rupee registered marginal improvement against the US dollar, appreciating 0.08% during the opening hours of trading in the inter-bank market on Friday.
At 10am, the currency was hovering at 280.70, a gain of Re0.22 against the greenback.
On Thursday, the local unit closed at 280.92.
Globally, the US dollar held its ground in early Asian trade on Friday after reaching a three-month high as traders processed mixed signals from this week’s central bank decisions, tech sector earnings and a tentative US-China tariff truce.
The US dollar index, which measures the greenback’s strength against a basket of six currencies, held steady at 99.478 after Wall Street stock market losses spooked global markets on Thursday.
The US dollar was down 0.1% at 153.935 yen, edging back from a nearly nine-month high after data on Friday showed core consumer prices in Tokyo rose at a quicker-than-expected 2.8% in October from a year earlier.
This indicated inflation remains above target in the Japanese capital, complicating the Bank of Japan’s path after it held interest rates on Thursday.
Traders have scaled back bets the Federal Reserve will cut rates again at its next policy meeting on December 10. Fed funds futures imply a 74.7% probability of a 25-basis-point cut then compared with a 91.1% chance a week ago, according to the CME Group’s FedWatch tool.
The yield on the US 10-year Treasury bond was around a three-week high of 4.0989%, up 0.59 basis point compared with a previous close of 4.093%.
Oil prices, a key indicator of currency parity, eased on Friday, heading for a third straight monthly decline, as a stronger dollar capped commodities gains while rising supply from major producers globally offset the impact of Western sanctions on Russian exports.
Brent crude futures slipped 33 cents, or 0.51%, to $64.67 a barrel by 0027 GMT, while US West Texas Intermediate crude was at $60.22 a barrel, down 35 cents, or 0.58%.
This is an intra-day update
American Dollar Exchange Rate