The Pakistani Rupee closed the week on a positive note against the US Dollar (USD), gaining marginally in the interbank market.
Opening the day at Rs278, the PKR maintained stability throughout the trading session, closing at Rs277.63 with an appreciation of 0.05 per cent, marking a 15-paisa gain against the greenback.
Stability in the Interbank Market
During the interbank exchange rate fluctuated minimally, holding steady at 278/$ before closing slightly lower.
Moreover, open market rates hovered between Rs277 and Rs278, indicating limited volatility across currency counters. This modest appreciation follows a broader trend, where the rupee has strengthened by 0.25 per cent on a fiscal year-to-date basis.
Mixed Performance Against Major Currencies
While the PKR gained against the USD, its performance against other major currencies was mixed. In the interbank market today, the PKR appreciated by 4 paisas against the UAE Dirham (AED) and by 5 paisas against the Saudi Riyal (SAR). Against the British Pound (GBP), the rupee strengthened by 17 paisas, and it gained 53 paisas against the Canadian Dollar (CAD).
On the downside, the PKR faced minor losses, dropping 25 paisas against the Euro (EUR) and 37 paisas against the Australian Dollar (AUD).
Economic Outlook
The PKR’s stability against the USD is a positive indicator for the domestic economy, though its mixed performance against other global currencies reflects ongoing volatility in international markets.
Analysts suggest that the rupee’s trajectory will depend on further developments in global oil prices and Pakistan’s external debt obligations.
Separately, on Thursday the gold prices in Pakistan continued their downward trend, reflecting a decline in international gold rates.
According to figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola in the local market fell by Rs500, bringing it down to Rs271,200.
