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 currency was hovering at 280.70, a gain of Re0.16 against the greenback.
On Wednesday, the local unit closed at 280.86.
Globally, the US dollar held just below multi-month highs on Thursday, with a recovery in appetite for riskier assets pulling it off recent peaks, while sterling was under pressure ahead of a Bank of England meeting where investors anticipate a dovish tone.
At $1.1495 against the euro the dollar hasn’t budged a great deal, though it sits a fraction weaker from Tuesday’s three-month top of $1.1469.
Some of the largest movers overnight were the risk-sensitive Australian and New Zealand dollars, which tracked a rebound in the stock market, as a sharp selloff in technology shares abated.
The Aussie rose 0.3% overnight, bouncing from its 200-day moving average, to trade at $0.6508 in the Asia morning. The kiwi lifted from a seven-month low to buy $0.5665.
The Antipodean currencies’ gains came despite a sharp rise in US yields that followed some encouraging US labour data and hints from the Treasury Department of a future increase in debt sales.
The dollar gained marginally on the yen overnight and was steady at 153.93 yen on Thursday.
Oil prices, a key indicator of currency parity, were largely flat early on Thursday, after settling at two-week lows in the previous session as pressure from weaker demand and a global oil glut continued to weigh on the market.
Brent crude futures were up 2 cents, or 0.03%, to $63.54 a barrel at 0127 GMT, while US West Texas Intermediate futures were flat at $59.60.
This is an intra-day update
American Dollar Exchange Rate