Pakistani rupee declined further against the US dollar, depreciating 0.02% during the opening hours of trading in the inter-bank market on Monday.
At 10:15am, the currency was hovering at 284.52, a loss of Re0.06.
During the previous week, rupee depreciated against the US dollar in the inter-bank market as it lost Re0.49 or 0.17%.
The local unit closed at 284.46, against 283.97 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
Globally, the euro fell to a three-week low early on Monday while the Mexican peso also came under pressure after US President Donald Trump threatened to impose a 30% tariff on imports from two of the largest US trading partners beginning August 1.
Trump on Saturday announced the latest tariffs in separate letters to European Commission President Ursula von der Leyen and Mexican President Claudia Sheinbaum that were posted on his Truth Social media site.
Both the European Union and Mexico described the tariffs as unfair and disruptive, while the EU said it would extend its suspension of countermeasures to US tariffs until early August and continue to press for a negotiated settlement.
Reaction in the currency market to Trump’s latest tariff threats was largely muted in Asian trade, though the euro did slip to a roughly three-week low early in the session.
The single currency later regained some ground and last traded 0.12% lower at $1.1679.
Against the Mexican peso, the US dollar rose 0.25% to 18.6699.
Elsewhere, however, the US dollar made limited gains, with sterling down just 0.07% at $1.3481, while the Japanese yen rose 0.1% to 147.28 per dollar.
Investors have grown increasingly desensitised to Trump’s slew of tariff threats, with his latest upheaval in the global trade landscape doing little to prevent US stocks from scaling record highs and offering just a slight boost to the US dollar.
Oil prices, a key indicator of currency parity, nudged higher on Monday, adding to gains of more than 2% from Friday, as investors eyed further US sanctions on Russia that may affect global supplies, but a ramp-up in Saudi output and ongoing tariff uncertainty limited gains.
Brent crude futures rose 15 cents to $70.51 a barrel by 0400 GMT, extending a 2.51% gain on Friday. US West Texas Intermediate crude futures climbed to $68.59, up 14 cents, after settling 2.82% higher in the previous session.
This is an intra-day update
