The Pakistani rupee gained further ground against the US dollar, appreciating 0.07% during the opening hours of trading in the inter-bank market on Thursday.
At 10:15am, the local currency was hovering at 280.92, up by Re0.2 against the US dollar.
On Wednesday, the local unit closed at 281.12.
Internationally, the US dollar slipped on Thursday as the Sino-US trade war sapped investor sentiment, while growing confidence of the US Federal Reserve cutting its policy interest rate this year also weighed on the greenback.
The euro rose 0.14% to $1.1664 in early trade, hitting a one-week high. The yen also firmed to a one-week high of 150.52 per dollar.
The dollar index, which measures the greenback against six other currencies, was down 0.16% at 98.512, headed for a weekly decline of 0.33%.
Investor focus has been on the trade spat between the world’s biggest economies, with US officials blasting China’s expansion of rare earth export controls as a threat to global supply chains.
China’s commerce ministry defended the controls, pointing to US measures on Chinese goods and companies and calling US criticism hypocritical.
Oil prices, a key indicator of currency parity, rose by around 1% in early trade on Thursday after US President Donald Trump said Indian Prime Minister Narendra Modi had pledged his country would stop buying oil from Russia, which supplies about one-third of its imports.
Brent crude futures rose 57 cents, or 0.9%, to $62.48 a barrel at 0046 GMT. US West Texas Intermediate (WTI) futures also added 0.9%, or 54 cents, to trade at $58.81.
This is an intra-day update
