Karachi, February 13, 2025 — The Pakistani rupee maintained its stability against the US dollar in the interbank market on Thursday, reflecting a balanced interplay of demand and supply in the foreign exchange market.
The rupee closed at PKR 279.26 per dollar, unchanged from the previous day’s closing rate. This consistency in the rupee’s value underscores the market’s resilience, despite rising demand for import payments.
Currency market experts noted that the rupee’s steadiness came amidst increased import activity. Data from the Pakistan Bureau of Statistics (PBS) revealed a 10% surge in import payments in January 2025, amounting to $5.23 billion compared to $4.76 billion during the same period last year. The higher demand for dollars typically exerts pressure on the rupee; however, sustained foreign exchange inflows have helped maintain its equilibrium.
Analysts express cautious optimism regarding the rupee’s outlook in the coming weeks. One major contributing factor to this stability is the substantial growth in workers’ remittances. The State Bank of Pakistan (SBP) reported a notable 32% rise in remittance inflows during the first seven months (July–January) of FY 2024-25. These inflows have bolstered foreign exchange reserves and provided crucial support to the rupee, mitigating potential volatility.
The rupee’s resilience is further backed by an improvement in Pakistan’s foreign exchange reserves. The SBP’s latest data indicates a $46 million increase in reserves for the week ending January 31, 2025, bringing the total to $11.418 billion. Higher reserves not only enhance the central bank’s capacity to manage liquidity but also fortify the rupee against external economic shocks.
Additionally, strong export performance has played a significant role in supporting the rupee. PBS statistics show that Pakistan’s exports rose by 10% during the first seven months of FY 2024-25, reaching $19.55 billion compared to $17.78 billion a year earlier. This growth helps narrow the trade deficit, contributing to the rupee’s stability.
Looking ahead, experts anticipate that sustained remittance inflows, continued export growth, and stable foreign reserves will be crucial in preserving the rupee’s steadiness. If these positive trends persist, the rupee is likely to remain stable in the near future, despite potential short-term pressures from import-related dollar demand.