The Pakistani rupee ended Monday’s interbank session nearly unchanged against the US dollar, closing the day at 281.45 per USD compared to the previous close of 281.46. The local currency gained a marginal 0.73 paisa, reflecting stability in the foreign exchange market after a week of slight fluctuations.
During intraday trading, the rupee saw a high of 281.50 on the bid side and a low of 281.45 on the ask side. In the open market, exchange companies quoted the dollar at 281.20 for buying and 282.50 for selling, maintaining a narrow spread and showing limited volatility in retail transactions.
The rupee also recorded modest gains against several major global currencies. It appreciated by 19.16 paisa or 0.06 percent against the euro, closing at 330.72 compared to 330.91 in the previous session. Against the British pound, the local unit rose by 12.25 paisa or 0.03 percent to settle at 379.44. The currency strengthened further against the Swiss franc by 32.08 paisa or 0.09 percent, ending the day at 353.76.
Similar trends were observed against Asian currencies. The rupee gained 0.10 paisa or 0.05 percent against the Japanese yen to close at 1.9009, while it appreciated by 2.02 paisa or 0.05 percent against the Chinese yuan, finishing the day at 39.55. Marginal increases were also recorded against Gulf currencies, as the rupee rose by 0.40 paisa against the Saudi riyal to close at 75.04 and by 0.20 paisa against the UAE dirham to 76.63.
On a broader timeline, the rupee has shown mixed performance. During the current fiscal year, it has appreciated by 2.31 rupees or 0.82 percent against the US dollar. However, on a calendar year-to-date basis, the local currency has depreciated by 2.90 rupees or 1.03 percent, reflecting the impact of external pressures and fluctuating demand for foreign currencies.
The money market also reflected minor adjustments as benchmark Karachi Interbank Bid and Offer rates for six months inched down by one basis point, settling at 10.81 percent and 11.06 percent respectively. Analysts note that such stability in both the foreign exchange and money markets indicates cautious sentiment among traders, with the rupee moving within a narrow band as the market awaits clarity on external inflows and economic policy directions.
A performance summary of the past week shows the rupee’s resilience despite global currency movements. While it held steady against the dollar, the rupee managed to record improvements against the euro, pound, and franc. Over the past 52 weeks, the rupee’s trading band has remained between 277.51 and 284.97 against the US dollar, reflecting controlled fluctuations amid policy interventions and remittance inflows.
The exchange rate stability is being closely monitored as Pakistan prepares for upcoming reviews of its external financing commitments and economic reforms. Market watchers believe that while the rupee may hold ground in the short term, longer-term stability will depend on continued support from multilateral partners, a strong export outlook, and effective management of debt obligations.
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