Karachi, April 17, 2025 — The Pakistani rupee lost some ground against the US dollar on Thursday, depreciating by 16 paisas in the interbank market, even as several key economic indicators pointed towards an improving macroeconomic outlook.
At the close of trading, the rupee was quoted at PKR 280.62 against the dollar, compared to the previous day’s closing rate of PKR 280.46. The marginal decline came amid increased demand for the greenback, primarily driven by end-of-quarter import and corporate payments.
Currency dealers noted that pressure on the rupee intensified due to higher dollar demand from importers and multinational companies settling dues. Despite this short-term volatility, experts maintained a positive outlook for the rupee, citing strong foreign exchange inflows and improving economic fundamentals.
Pakistan recently reported a record-breaking current account surplus of $1.2 billion for March 2025, the highest-ever in a single month. This historic surplus was largely driven by a surge in remittances, which rose 39% year-on-year to reach $4.1 billion — up from $2.95 billion in March 2024. These remittance inflows continue to play a key role in supporting the rupee and narrowing the external financing gap.
In addition to remittances, rising export earnings also contributed to the balance of payments improvement. According to the Pakistan Bureau of Statistics, exports increased by 8% to $24.72 billion during July–March FY2024–25. Although imports rose by 6.6% to $42.7 billion, the trade deficit remained manageable.
Market watchers believe that expected dollar inflows from the International Monetary Fund (IMF) under the ongoing financial assistance program will further strengthen the rupee in the coming months. These inflows, coupled with disciplined monetary and fiscal policies, could help stabilize the exchange rate.
While the rupee may face short-term fluctuations due to seasonal dollar demand, the overall outlook remains cautiously optimistic, thanks to sustained surplus figures and steady external sector performance.