The Pakistani rupee registered a marginal gain against the US dollar, appreciating 0.13% during the opening hours of trading in the inter-bank market on Wednesday.
At 10:15am, the rupee was hovering at 281.53, an increase of Re0.36, in the inter-bank market.
On Tuesday, the rupee had registered a marginal fall to settle at 281.89 against the US dollar.
In a key development, the Federal Board of Revenue (FBR) is all set to block mobile SIM cards and mobile phones of non-filers during the current month.
It is learnt that the FBR is ready to enforce strict measures against non-filers. In the first phase, the mobile SIM cards and mobile phones of non-filers will be blocked. In this regard, the FBR will issue the Income Tax General order by January 15.
The FBR is also devising a strategy to disconnect electricity and gas connections of non-filers. Till now, the FBR lacks complete data on the electricity connections of non-filers.
Internationally, the US dollar rose broadly on Wednesday and stood near a two-week high against its major peers, underpinned by a confluence of factors including elevated US Treasury yields and a cautious turn in risk sentiment that weighed on Wall Street.
Trading was thinned in Asia with Japan out on a holiday, and with investors still returning from an extended New Year break, currencies traded mostly sideways in early deals.
The US currency was broadly firm, enjoying some respite after having fallen 2% last month and clocking its first yearly loss since 2020.
Oil prices, a key indicator of currency parity, stabilised in early Asian trade on Wednesday after sharp moves earlier in the week, as markets weighed concerns about the U.S. economy and potential supply disruptions from ongoing tensions in the Red Sea.
Brent crude slipped 1 cent, or 0.01%, to $75.88 a barrel by 0300 GMT, while US West Texas Intermediate crude futures rose 4 cents, or 0.06%, to $70.42 a barrel.
Oil prices had climbed around $2 earlier in the week following attacks on vessels in the Red Sea by Houthi rebels over the weekend and the reported arrival of an Iranian warship on Monday. A wider conflict could close crucial waterways for oil transportation and disrupt trade flows.
This is an intra-day update
