The Pakistani rupee registered gains against the US dollar, appreciating 0.09% during the opening hours of trading in the inter-bank market on Monday.
At 10am, the local currency was hovering at 281.78, a gain of Re0.24 against the greenback.
During the previous week, rupee depreciated against the US dollar as it lost Re0.04 or 0.01% in the inter-bank market.
The local unit closed at 282.02, against 282.06 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
A rise in import demand has put pressure on the local currency, according to analysts.
Globally, the US dollar edged lower on Monday, giving back some of its gains from last week, as markets weighed the outlook for President Donald Trump’s tariff policy and its potential to constrict growth and unleash inflation.
The greenback starts the week on the back foot after Trump said late on Friday that he plans to double duties on imported steel and aluminum to 50% from Wednesday, and as Beijing hit back against accusations it violated an agreement on critical minerals shipments.
The US dollar dropped 0.3% to 143.57 yen as of 0439 GMT, giving back some of its more than 1% rally from last week.
The euro gained 0.1% to $1.1362, and sterling advanced 0.2% to $1.3485.
The Australian dollar added 0.3% to $0.6453 and the New Zealand dollar rose 0.4% to $0.5994.
The US dollar index, which measures the currency against six major peers, eased 0.1% to 99.283.
The US currency has been whipsawed for weeks by Trump’s on-again-off-again trade war, falling when a flare up in tensions stokes worries of a potential U.S. recession.
Oil prices, a key indicator of currency parity, rebounded more than $1 a barrel on Monday after producer group OPEC+ decided to increase output in July by the same amount as it did in each of the prior two months, which came as a relief to those who expected a bigger increase.
Brent crude futures climbed $1.34, or 2.13%, to $64.12 a barrel by 0346 GMT after settling 0.9% lower on Friday. US West Texas Intermediate crude was at $62.31 a barrel, up $1.52, or 2.5%, following a 0.3% decline in the previous session.
This is an intra-day update
American Dollar Exchange Rate