The Pakistani rupee continued its marginal gain against the US dollar in the inter-bank market on Monday.
The local unit closed the day at 276.81, a gain of Re0.01 against the greenback.
During the previous week, the Pakistani rupee extended its marginal gain against the US dollar for another week, appreciating 0.03% in the inter-bank market.
The local unit closed at 276.82 against the greenback, a gain of Re0.09 from 276.91 it had closed at a week earlier, according to State Bank of Pakistan (SBP) data.
Internationally, major currencies traded in tight ranges on Monday to begin a busy week of central bank decisions and corporate earnings, while a pullback in oil prices and Treasury yields weighed on the dollar.
Meanwhile, US Treasuries largely held onto gains from a recent safe-haven rally, as elevated oil prices kept inflation worries alive and a tech-led selloff over concerns about AI spurred a rotation out of risk assets.
Yields on US 10-year notes were last down to 4.974% while those on 30-year notes were at 5.299%, hovering near one-month lows.
The euro rose 0.16% against the greenback to $1.122, aided by relief that France was spared a Moody’s downgrade despite social unrest. Sterling strengthened 0.1% to $1.3385.
The dollar index, which measures the US currency against a basket of peers, was a shade weaker at 101.64.
The Australian dollar fetched $0.7030, down 0.04%, while the kiwi traded 0.06% stronger at $0.572.
The Japanese yen was largely steady and was last at 156.920 per dollar.
Five major central banks will take centre stage later in the week, with the US Federal Reserve, the European Central Bank and the Bank of Japan expected to hold rates steady. Markets are pricing in potential hikes from the Bank of Canada and the Reserve Bank of New Zealand.
Oil prices, a key indicator of currency parity, fell on Monday after surging last week but still held near six-month highs, amid hopes of easing hostilities between the United States and Iran, although persistent attacks on key producer Saudi Arabia kept investors wary.
Brent crude futures were down $1.90, or 1.63%, at $114.82 by 0959 GMT. US West Texas Intermediate crude futures were down $2.08, or 2%, at $101.19 per barrel.
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