The Pakistani rupee remained stable against the US dollar during the opening hours of trading in the inter-bank market on Thursday.
At 9:52am, the local currency was hovering at 280.47, only 1 paisa lower than the previous day’s close.
On Wednesday, the rupee had settled at 280.46 against the greenback.
Internationally, the dollar looked set to notch a fourth straight weekly loss on Thursday as tariffs drive investors from U.S. assets, though it lifted off a seven-month low against the yen as U.S.-Japan trade talks have so far steered clear of any currency discussion.
The dollar has taken a beating as the U.S. has threatened, imposed and then postponed massive tariffs, undermining investor confidence in U.S. economic growth and stability.
The 8% gain for the safe-haven Swiss franc since April 2 is the largest among G10 currencies and at 0.8151 per dollar it is testing strong resistance at a decade-high of 0.81.
The euro and yen are not far behind with gains of around 5% on the dollar in little more than two weeks.
The euro eased slightly to $1.1373 in the Asia morning, though it remains set for a fourth straight weekly rise, even with the European Central Bank expected to deliver a 25-basis-point rate cut later in the session.
This is intra-day update
