The Pakistani rupee recorded further gain against the US dollar, appreciating 0.09% in the inter-bank market on Thursday.
At 10am, the local currency was hovering at 280.8, up by Re0.25 against the US dollar, according to the State Bank of Pakistan (SBP).
The local unit closed at 281.05 on Wednesday.
Globally, the US dollar drifted higher against its major peers on Thursday as traders waited on the delayed release of US consumer inflation data on Friday, while digesting tariff threats between Washington and Beijing.
The yen weakened to a one-week low against the dollar as the market awaited details of a big stimulus package from new Prime Minister Sanae Takaichi, widely viewed as favouring fiscal and monetary easing.
Sterling remained under pressure after British data on Wednesday showed consumer inflation held steady at 3.8% last month, defying economists’ estimates for it to accelerate.
Traders rushed to price a 75% chance of the Bank of England cutting rates by its December meeting – up sharply from a 46% probability before the data was published – although those odds had eased back to 61% on Thursday.
The US dollar index, which measures the currency against the yen, sterling, euro and three other peers, edged up 0.05% to 98.979 as of 0050 GMT.
Oil prices, a key indicator of currency parity, jumped around 2.5% on Thursday, extending gains from the previous session, as supply concerns resurfaced after the United States imposed sanctions on major Russian oil suppliers Rosneft and Lukoil over the Ukraine war.
Brent crude futures were up by $1.56, or 2.49%, at $64.15 per barrel by 0303 GMT, while US West Texas Intermediate crude futures were up $1.53, or 2.62%, at $60.03.
This is an intra-day update
