The Pakistani rupee strengthened against the US dollar, appreciating 0.09% during the opening hours of trading in the inter-bank market on Thursday.
At 10am, the currency was hovering at 281.07, a gain of Re0.24 against the greenback.
On Wednesday, the local unit closed at 281.31.
Internationally, the US dollar regained its footing in early Asian trading on Thursday after the US Supreme Court said it would hear arguments in January over President Donald Trump’s attempt to remove Federal Reserve Governor Lisa Cook, leaving her in the post for now.
The dollar’s broader index measure against a basket of key currencies edged up 0.1% to 97.80, retracing declines after four straight days of losses, as traders pondered the length of the US government shutdown and its effect on economic data releases.
The US government shutdown has put the brakes on the flow of federal economic data at a moment of uncertainty and division among policymakers.
The Trump administration on Wednesday froze $26 billion for Democratic-leaning states, following through on a threat to use the shutdown to target Democratic priorities.
The market is assuming that further policy easing at the Federal Reserve’s October meeting is a lock, with Fed funds futures implying a 99.4% probability of a 25-basis-point cut, up from 96.2% a day earlier, according to the CME Group’s FedWatch tool.
Against the yen, the dollar traded at 147.305 yen , up 0.2% from late US levels.
Against the offshore yuan, the dollar fetched 7.13 yuan , up 0.1% in early Asian trade. Chinese markets are closed for the Golden Week holiday.
Oil prices, a key indicator of currency parity, rose on Thursday after losses in the previous three sessions due to market oversupply concerns, as the potential for tighter sanctions on Russian crude lent some support.
Brent crude futures gained 37 cents, or 0.57%, to $65.72 a barrel by 0401 GMT. US West Texas Intermediate crude climbed by 34 cents, or 0.55%, to $62.12 a barrel.
This is an intra-day update
