The Pakistani rupee (PKR) continued its steady trajectory on Thursday, posting a marginal gain against the US dollar in the interbank market. The local currency appreciated by 1.14 paisa, closing the day at PKR 280.36 per USD, slightly stronger than the previous close of 280.37.
Despite the modest move, the rupee showed relative stability throughout the session, touching an intraday high (bid) of 280.40 and a low (ask) of 281.40, reflecting a calm trading environment amid improving sentiment in the currency market.
Open Market: Dollar Remains Range-Bound:
In the open market, exchange companies quoted the US dollar at:
• Buying: PKR 280.60
• Selling: PKR 281.40
The close alignment between interbank and open-market rates highlights increased supply and better liquidity, which has helped reduce volatility over the past few weeks.
PKR Shows Mixed Movement Against Major Global Currencies:
While the rupee held firm against the dollar, it showed a divergent trend when compared to other major international currencies.
Euro (EUR)
• PKR depreciated by 1.49 rupees (0.46%)
• Closed at PKR 328.08 vs. previous 326.59
British Pound (GBP)
• PKR weakened by 1.20 rupees (0.32%)
• Settled at PKR 374.83 versus 373.63 earlier
Swiss Franc (CHF)
• PKR dropped by 2.47 rupees (0.71%)
• Closed at PKR 350.83
Japanese Yen (JPY)
• PKR slipped by 0.77 paisa (0.43%)
• Closed at PKR 1.7977 compared to 1.7900 previously
Chinese Yuan (CNY)
• PKR eased by 1.67 paisa (0.04%)
• Finished at PKR 39.72
Interestingly, the rupee showed slight strength against Gulf currencies:
Saudi Riyal (SAR)
• Gained 0.70 paisa (0.01%)
• Closed at PKR 74.71
UAE Dirham (AED)
• Gained 0.73 paisa (0.01%)
• Closed at PKR 76.33
Rupee’s Performance in FY25 and CY25:
The Pakistani rupee has displayed a mixed but improving pattern this year.
Current Fiscal Year (FY25)
• PKR has appreciated by 3.40 rupees (1.21%) against the USD
Calendar Year (CY25)
• PKR has depreciated 1.81 rupees (0.65%) so far
The overall trend shows that while global currency pressures remain, Pakistan’s local unit is benefiting from better inflows, improved sentiment, and tighter administrative measures.
Outlook: Stability Continues Amid Global and Local Shifts:
The rupee’s slight gain against the dollar and its controlled movement across major currencies signal a market that is gradually stabilizing. With improving foreign exchange reserves, restrained imports, and steady remittance flows, analysts expect the PKR to maintain a narrow trading range in the near term.
However, external factors such as global oil prices, geopolitical developments, and Federal Reserve rate decisions will continue to influence PKR’s direction.