The Pakistani rupee registered marginal improvement against the US dollar, appreciating 0.05% during the opening hours of trading in the inter-bank market on Wednesday.
At 10:15am, the rupee was hovering at 278.17, a gain of Re0.13 against the greenback.
On Tuesday, the rupee had closed at 278.30, up by Re0.06.
In recent weeks, the domestic currency has largely been around 277-278 against the dollar as Pakistan moves forward with its plan to win a longer and longer International Monetary Fund (IMF) bailout programme.
Globally, the US dollar steadied on Wednesday as traders pared back on riskier bets in emerging markets while waiting on an interest rate decision in Canada and on US services data.
The Swiss franc and yen were also beneficiaries of the sentiment, with the yen receiving an extra boost after Bloomberg News reported the Bank of Japan was likely to mull cuts to bond buying at its policy meeting next week.
The yen eased 0.2% to 155.27 in early trade in the Asia session, and hovered at 168.74 to the euro after making 1% jump on the common currency overnight – its largest such rise since Japan intervened in FX markets a month ago.
Oil prices, a key indicator of currency parity, hovered near four-month lows in Asia on Wednesday as markets digested an OPEC+ decision to boost supply later this year and following an increase in US crude and fuel stocks.
Brent crude futures were up 4 cents at $77.56 a barrel by 0307 GMT, while US West Texas Intermediate crude futures were flat at $73.25 a barrel.
Both contracts fell nearly a dollar on Tuesday to their lowest settlement levels since early February, and had declined around $3 a barrel on Monday.
This is an intra-day update
American Dollar Exchange Rate