The Pakistani rupee recorded a slight improvement against the US dollar in the inter-bank market on Tuesday, according to official currency market data today there.
At the close of trading, the local currency settled at 279.91, marking a marginal gain of Re0.01 against the greenback by inter-bank market rates Tuesday.
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On Monday, the local unit had closed at 279.92 against the US dollar in the inter-bank foreign exchange market during previous trading session officially recorded.
Internationally, the US dollar retreated to its lowest level in a week during early trading on Tuesday after a broad selloff across US markets globally.
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The fall followed White House threats towards the European Union over Greenland, triggering selling pressure across US stocks and government bonds during early Tuesday trading.
The dollar index, measuring strength against six currencies, slipped 0.1 percent to 99.004, its lowest level since January 14 amid investor concerns about US exposure.
Renewed tariff threats from President Donald Trump revived the so-called Sell America trade, pressuring stocks, Treasury bonds and the dollar during recent market volatility period.
Meanwhile, oil prices showed mixed movement as Brent edged lower and US crude gained slightly in early trading on Tuesday amid weaker dollar conditions globally.
