The Pakistani rupee recorded a marginal improvement against the US dollar, appreciating 0.04% in the inter-bank market during the opening hours of trading on Wednesday.
At 10:05am, the currency was hovering at 278.72, a gain of Re0.1 against the greenback.
According to the State Bank of Pakistan (SBP), the rupee closed at 278.82 on Tuesday.
Internationally, the US dollar drifted slightly lower on Wednesday in indecisive trading as a lack of clarity on President Donald Trump’s plans for tariffs kept financial markets guessing.
Trump said late Tuesday at the White House that his administration was discussing imposing a 10% tariff on goods imported from China on Feb. 1, the same day that he previously said Mexico and Canada would face levies of around 25%.
He also vowed duties on European imports without providing further details.
Despite those threats, a lack of specific plans from Trump’s first day in office saw the US dollar start the week with a 1.2% slide against a basket of major peers.
It stabilized on Tuesday, ending flat after an attempted rebound fizzled, with US officials saying any new taxes would be imposed in a measured way.
The US dollar index, which tracks the currency against the euro, yen and four other top rivals, was down 0.14% at 108 as of 0054 GMT.
Oil prices, a key indicator of currency parity, were little changed in early trading on Wednesday as markets weighed US President Donald Trump’s declaration of a national energy emergency on his first day in office and its impact on supply.
Brent crude futures eased 3 cents, to $79.26 per barrel, while US West Texas Intermediate crude futures (WTI) for March delivery eased 9 cents to $75.74 at 0120 GMT.
On Monday, Trump laid out a sweeping plan to maximise oil and gas production, including declaring a national energy emergency to speed permitting, rolling back environmental protections, and withdrawing the US from the Paris climate pact.
This is an intra-day update
American Dollar Exchange Rate