The Pakistani rupee posted marginal gain against the US dollar in the inter-bank market on Tuesday.
At close, the local currency settled at 278.01, a gain of Re0.01 against the greenback.
On Monday, the rupee closed at 278.02 against the dollar.
The dollar steadied on Tuesday ahead of US inflation data, with Middle East tensions lifting oil prices while the yen held a soft tone amid caution over possible intervention and after policymakers’ comments on state pension fund allocations.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, eased 0.04% to 101.23.
The euro was up against the dollar at $1.1388, and sterling gained 0.07% to $1.3355.
Meanwhile, Federal Reserve Governor Christopher Waller said rates may need to rise “in the near term” if data shows inflation remaining well above the central bank’s 2% target.
Moreover, oil prices rose nearly 3% on Tuesday to their highest in four weeks.
Brent crude futures were last up $1.90, or 2.3%, to $85.20 per barrel at 0630 GMT, while US West Texas Intermediate crude rose $1.91, or 2.4%, to $80.05 a barrel.
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