The rupee settled at Rs281.11 after an increase of Re0.02, or appreciating by 0.01%, against the dollar in the interbank market, according to the State Bank of Pakistan.

It was the seventh consecutive session that the local currency maintained its positive momentum against the greenback.

On Wednesday, the rupee registered a marginal gain to settle at 281.13 against the foreign currency.

The dollar was becalmed in the international market as traders waited on US inflation data to see whether bets on rate cuts were justified.

Meanwhile, Pakistan’s sovereign international dollar bonds rose on Thursday ahead of a meeting of the International Monetary Fund (IMF) executive board on the first review on the country’s $3 billion programme.

The bonds rose by up to 1.77 cents by 0857 GMT, with the 2026 bonds rising the most to 70.79 cents on the dollar, according to Tradeweb data.

Moreover, the State Bank of Pakistan’s foreign exchange reserves fell $66 million to $8.1 billion in the week ending Jan 5, it said on Thursday.