The Pakistani rupee remained largely stable against the US dollar, appreciating 0.01% in the inter-bank market during the opening hours of trading on Tuesday.
At 10:05am, the rupee was hovering at 279.25, a gain of Re0.02 against the greenback.
The rupee had closed at 279.27 on Monday.
Internationally, the US dollar wobbled near two-month lows on Tuesday as traders weighed tariff worries and the path to US rate cuts, while the Australian dollar managed to stay close to its highest level in two months even as markets bet on an imminent rate cut.
The yen held on to its recent gains as strong growth data bolstered odds of the Bank of Japan raising interest rates again this year, with July seen as a live meeting.
Investor focus this week will be on Wednesday’s release of minutes of the Federal Reserve’s meeting in January to gauge how policymakers have sought to weigh the risk of a broader tariff war in the wake of President Donald Trump’s trade policies.
Data last week showed US consumer prices increased by the most in nearly 1-1/2 years in January, reinforcing the Fed’s message that it was in no rush to resume cutting rates amid growing uncertainty over the economy.
The US dollar index, which measures the US currency against six other major rivals, was 0.1% higher at 106.83 but still near the two-month low of 106.56 it touched on Friday.
Oil prices, a key indicator of currency parity, paused in early trading on Tuesday after gaining in the previous session following a drone attack on an oil pipeline pumping station in Russia that reduced flows from Kazakhstan.
Brent crude futures ticked down 7 cents, or 0.09%, to $75.15 a barrel by 0137 GMT.
US West Texas Intermediate (WTI) crude rose 47 cents to $71.21 a barrel. The WTI contract did not settle at its normal time on Monday due to the US Presidents’ Day holiday.
This is an intra-day update
American Dollar Exchange Rate