The Pakistani rupee posted marginal gain, appreciating 0.01%, against the US dollar in inter-bank market on Thursday.
At close, the local currency settled at 278.62, a gain of Rs0.03 against the greenback.
On Wednesday, the local unit closed at 278.65.
The US dollar got a lift from elevated US Treasury yields on Thursday as investors wagered the Federal Reserve would hike rates this year, while global focus moved to a two-day summit between US President Donald Trump and China’s Xi Jinping.
In the broader market, the dollar held steady on Thursday, leaving the euro little changed at $1.1714 and on track to lose 0.6% for the week, which would mark its largest decline in two months.
Sterling last bought $1.3524 and was headed for a weekly fall of roughly 0.8%, pressured in part by political turmoil at home.
Against a basket of currencies, the US dollar was last at 98.48, up more than 0.6% for the week thus far.
Moreover, oil prices rose on Thursday, with brent crude futures up 26 cents, or 0.25%, to $105.89 a barrel by 0250 GMT, while U.S. West Texas Intermediate futures rose 32 cents, or 0.32%, to $101.34.
Both benchmark oil futures contracts fell on Wednesday as investors worried about possible US interest rate hikes, as higher fuel prices spur inflationary pressures. Brent crude futures fell more than $2 a barrel, while WTI futures fell more than $1.
