KIBOR rates Pakistan

The Pakistani rupee exchange rate remained largely stable in Friday’s interbank trading session, posting a marginal appreciation against the US dollar while gaining strength against most major global currencies. The performance reflects relative calm in the foreign exchange market, supported by easing money market rates and controlled dollar demand. At the close of trading, the rupee settled at PKR 280.11 per US dollar, compared to the previous close of PKR 280.12, marking a gain of 1.11 paisa. Market participants described the session as range-bound, with limited volatility throughout the day. Pakistani Rupee Exchange Rate Against the US Dollar During intraday trading, the rupee recorded a high bid of PKR 280.60 and a low ask of PKR 281.15, indicating stable liquidity conditions in the interbank market. In the open market, exchange companies quoted the dollar at PKR 280.50 for buying and PKR 281.15 for selling, reflecting a narrow spread and steady demand-supply dynamics. On a broader basis, the local currency has strengthened by PKR 3.65, or 1.30%, during the current fiscal year, underscoring gradual recovery sentiment. However, on a calendar-year basis, the rupee has recorded a modest gain of 1.11 paisa so far, highlighting cautious market optimism. Pakistani Rupee Exchange Rate Versus Major Global Currencies Beyond the US dollar, the Pakistani rupee exchange rate posted gains against several major international currencies, signaling improved short-term confidence. The rupee appreciated 9.70 paisa (0.03%) against the euro, closing at PKR 328.75 compared to PKR 328.85 previously. Against the British pound, it strengthened by 12.70 paisa (0.03%) to PKR 377.04, while also gaining 8.08 paisa (0.02%) against the Swiss franc, which closed at PKR 353.14. The most notable percentage movement came against the Japanese yen, where the rupee gained 0.27%, closing at PKR 1.7843. Meanwhile, the rupee also improved marginally against the Chinese yuan, settling at PKR 40.05, reflecting stable trade-related currency flows. Pakistani Rupee Exchange Rate Against Regional Currencies In the regional currency market, the rupee recorded small but positive movements. It rose 0.19 paisa against the Saudi riyal to PKR 74.69 and gained 0.93 paisa (0.01%) against the UAE dirham, closing at PKR 76.27. These movements align closely with the rupee’s performance against the US dollar due to the peg of Gulf currencies. Money Market Trends Supporting the Pakistani Rupee Exchange Rate Supporting currency stability, Pakistan’s money market witnessed a decline in short-term rates. The benchmark 6-month Karachi Interbank Offered Rate (KIBOR) fell by 7 basis points, with bid and offer rates settling at 10.33% and 10.58%, respectively. Lower interbank rates typically reduce speculative pressure on the rupee by easing domestic liquidity conditions, which may help maintain exchange rate stability in the near term. 52-Week Perspective on the Pakistani Rupee Exchange Rate From a longer-term view, the rupee continues to trade within a defined band against major currencies. Against the US dollar, the rupee has remained within a 52-week range of PKR 278.56 to PKR 284.97, currently trading closer to the stronger end of this band. Similar stabilization trends are evident against the euro, pound, and dirham, suggesting reduced volatility compared to mid-2025 levels. Outlook: What Lies Ahead for the Pakistani Rupee Exchange Rate Market analysts expect the Pakistani rupee exchange rate to remain broadly stable in the short term, supported by controlled imports, steady remittances, and prudent monetary management. However, global interest rate movements, oil prices, and external financing developments will continue to influence currency direction in the coming weeks.