Pakistani rupee registered a slight gain of 0.02% against the US dollar during early trade in the interbank market on Monday.
The local currency was trading at 279.00 per dollar, marking an increase of 0.05 rupees in the morning session.
Last week, the rupee had depreciated by 0.10 rupees or 0.04%, closing at 279.05 per dollar, compared to 278.95 the previous week, according to the State Bank of Pakistan (SBP).
On the global front, the US dollar strengthened following remarks by former US President Donald Trump, who stated that he is prepared to impose 25% tariffs on all steel and aluminum imports. This announcement put pressure on the Australian and New Zealand dollars.
Trump further mentioned that the tariffs would be announced on Tuesday or Wednesday, applying to all countries based on reciprocal tax rates.
Concerns over a global trade war have intensified, with China set to impose retaliatory tariffs on US goods starting today (Monday).
