Key Points
- Interbank rate closes around Rs 281.16 per dollar, SBP data shows
- Weighted average bid/offer quoted at Rs 280.95 / 281.38
- Open market trades in Rs 283–284 band, according to Exchange Companies Association
- Market sentiment stays calm ahead of next week’s economic data
ISLAMABAD: The Pakistani rupee ended the week largely stable against the US dollar on Friday, with the State Bank of Pakistan (SBP) reporting a mark-to-market revaluation rate of Rs 281.1633 per dollar.
The central bank’s weighted average exchange rate was quoted at Rs 280.9545 on the bid and Rs 281.3863 on the offer, reflecting a narrow range and subdued activity in the interbank market, according to the SBP website.
In the open market, exchange companies quoted the greenback between Rs 283.00 and Rs 284.00, according to data from the Exchange Companies Association of Pakistan (ECAP). Dealers observed that demand remained balanced. The exporter inflows and remittances largely offset the import payments, they added.
Currency traders told Business Recorder that the rupee has shown resilience in recent sessions, aided by improved foreign-exchange reserves and consistent inflows under the Roshan Digital Account scheme. “The interbank market has stayed orderly with no signs of panic buying,” one dealer said, adding that the rupee’s short-term outlook remains stable barring any external shock in oil prices.
Analysts told local media that expectations of fresh inflows from multilateral lenders and the government’s progress on privatisation initiatives have helped sustain market confidence.
Outlook
Market participants expect the rupee to remain range-bound next week as traders await official economic data and global cues on oil movements and the dollar’s strength.
