The Pakistani rupee saw a slight gain of 0.02% against the US dollar during early trading in the interbank market on Monday.
The local currency was valued at 279.00 per dollar, reflecting 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, up from 278.95 the previous week, according to the State Bank of Pakistan (SBP).
Globally, the US dollar strengthened following comments from former US President Donald Trump, who signaled plans to impose 25% tariffs on all steel and aluminum imports. The announcement placed downward pressure on the Australian and New Zealand dollars.
Trump further indicated that the tariffs would be announced by Tuesday or Wednesday, applying to all countries based on reciprocal tax rates. Amid rising concerns over a global trade war, China is set to impose retaliatory tariffs on US goods starting today (Monday).
