The Pakistani rupee appreciated by Re0.33 against the US dollar during early trading on Tuesday, reaching PKR 282.33 in the inter-bank market. On Monday, it had closed at PKR 282.66.

This upward movement reflects sustained confidence in the local currency, supported by stable macroeconomic signals.

Globally, the US dollar remained under pressure amid growing expectations of a Federal Reserve rate cut in September. Recent US jobs data revealed labour market weaknesses, fueling a 94.4% probability of a rate cut, up from 63% a week ago.

Political developments, including the resignation of a Federal Reserve Governor, further added to market uncertainty.

Oil prices remained flat after three days of losses. Brent held at $68.76, while WTI traded at $66.27 per barrel, as markets weighed OPEC+ output hikes against potential Russian supply risks.