KEY POINTS
- Rupee closes nearly unchanged against USD in both markets
- SBP data shows interbank rate at PKR 281.16 per dollar
- ECAP quotes open market rate at PKR 282.85
- Market sentiment steady amid limited trading activity
ISLAMABAD: The Pakistani rupee remained largely stable against the US dollar on Thursday, as the local currency closed with minimal change in both interbank and open markets, according to official and exchange association data.
Figures released by the State Bank of Pakistan (SBP) showed the rupee settling at PKR 281.1633 per dollar in the interbank market. The bank’s mark-to-market (M2M) rate reflected no major movement compared to the previous session, suggesting that liquidity and sentiment in the official market remained balanced.
In the open market, data published by the Exchange Companies Association of Pakistan (ECAP) indicated that the U.S. dollar traded at PKR 282.85 for both buying and selling. Exchange companies described the session as “quiet,” with low volumes and limited speculative activity.
According to ECAP’s daily bulletin, the Euro was quoted at around PKR 335.30, while the British Pound Sterling stood near PKR 383.65. Dealers noted that cross-currency demand was subdued, and remittance inflows continued to support overall stability in the local market.
Currency traders said the rupee’s performance reflected a “wait-and-see approach” among participants ahead of upcoming macroeconomic data and further clarity on Pakistan’s ongoing arrangements with the International Monetary Fund (IMF).
