Intra-day update: rupee records gain against US dollar

The Pakistani rupee strengthened against the US dollar, appreciating 0.08% during the opening minutes of trading in the inter-bank market on Tuesday. At 10am, the local currency was hovering at 279.88, a gain of Re0.22 against the greenback. On Monday, the local unit closed at 280.10. Internationally, the US dollar retreated for a second day in Asian trading on Tuesday, as market jitters from US military action in Venezuela eased and dovish comments from Fed officials spurred risk-taking on Wall Street. The dollar index, which measures its strength against a basket of six currencies, was last trading at 98.216, down 0.2% and extending losses after snapping a four-day winning streak on Monday.