The Pakistani rupee strengthened against the US dollar, appreciating 0.09% during the opening minutes of trading in the inter-bank market on Monday.
At 10am, the local currency was hovering at 280.00, a gain of Re0.25 against the greenback.
During the previous week, the Pakistani rupee posted a marginal gain, appreciating by Re0.06 or 0.02% against the US dollar in the interbank market.
The local unit closed at 280.25, compared to 280.31, which it had closed at the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
Globally, the yen languished near a record low to the euro on Monday, after Bank of Japan Governor Kazuo Ueda stuck to his usual cautious rhetoric following an interest rate hike on Friday.
The Japanese currency traded near an 11-month trough versus the US dollar and just shy of a 17-month low on the Aussie.
The lack of any hawkish hints sent the yen tumbling 1.3% versus the euro, 1.4% against the greenback and 1.5% against the Aussie, even as it triggered a broad selloff in Japanese government bonds that sent the 10-year yield – which moves inversely to the price – soaring past the symbolic 2% mark to the highest since 1999.
The US dollar edged down 0.1% to 157.56 yen on Monday, but remained close to last month’s high of 157.90.
The euro eased 0.1% to 184.51 yen, staying within touching distance of Friday’s record peak at 184.75. The single currency was flat at $1.1714.
The Aussie weakened slightly to 104.20 yen, but was not far from the 104.39 yen mark reached earlier this month for the first time since July of last year. It rose 0.1% to $0.6616.
Oil prices, a key indicator of currency parity, climbed in early trade on Monday after the US intercepted a Venezuelan oil tanker over the weekend.
Brent crude futures rose 44 cents, or 0.73%, to $60.91 per barrel by 0141 GMT, while US West Texas Intermediate (WTI) crude rose 40 cents, or 0.71%, to $56.92.
This is an intra-day update
