The Pakistani rupee registered marginal improvement against the US dollar, appreciating 0.04% during the opening hours of trading in the inter-bank market on Tuesday.
At 11am, the currency was hovering at 277.75, a gain of Re0.11 against the greenback.
On Monday, the rupee had settled at 277.86, according to the State Bank of Pakistan (SBP).
Internationally, the US dollar traded close to a four-month peak versus major peers on Tuesday, while bitcoin extended its record rally as investors continued to pile into trades seen as benefiting from the incoming Donald Trump administration.
The euro languished near an almost seven-month trough reached overnight, while the yuan wallowed close to a more than three-month low with Europe and China both particular targets of potential Trump tariffs.
The US dollar index, which measures the currency against six peers including the euro, rose 0.07% to 105.49 as of 0037 GMT, after reaching 105.70 on Monday for the first time since July 3.
Leading cryptocurrency bitcoin pushed to a new all-time high of $89,637 on Tuesday. Trump has vowed to make the United States “the crypto capital of the planet”.
Oil prices, a key indicator of currency parity, were little changed in early trading on Tuesday, awaiting further price direction from OPEC’s monthly report after China’s stimulus plan and oversupply concerns took the wind out of markets in prior sessions.
Brent crude futures fell 1 cent to $71.82 a barrel, by 0158 GMT.
US West Texas Intermediate crude futures were at $68.07 a barrel, up 3 cents.
Both contracts had fallen by more than 5% over the previous two trading sessions.
This is an intra-day update
American Dollar Exchange Rate