Karachi, April 30, 2026 — The Pakistani rupee showed resilience in April 2026, gaining 38 paisa against the US Dollar despite ongoing geopolitical tensions and external financial pressures.
According to data released by the State Bank of Pakistan (SBP), the rupee appreciated to Rs278.77 per dollar on April 30, compared to Rs279.15 recorded on March 31 in the interbank market.
Resilience Amid Geopolitical Tensions
The rupee’s appreciation comes despite disruptions caused by tensions between the United States and Iran, which have significantly impacted global oil markets.
As a major importer of petroleum products, Pakistan faced a surge in its oil import bill, which increased to approximately $800 million per week, compared to around $300 million before the escalation.
External Support Strengthens Rupee
Despite higher import costs and external repayments, the rupee remained stable due to strong financial support from friendly countries.
Notably, Saudi Arabia deposited an additional $3 billion with the State Bank of Pakistan, helping boost foreign exchange reserves.
Pakistan also managed significant repayments, including obligations to the UAE and Eurobond holders during the month.
Remittances Provide Key Support
Worker remittances played a crucial role in supporting the currency.
During July–March FY2025-26, remittances rose by 8.2% to $30.3 billion, compared to $28.0 billion in the same period last year.
Outlook
Analysts believe the Pakistani rupee may remain relatively stable in the near term, supported by remittance inflows and external financing. However, risks from global oil prices and geopolitical uncertainty continue to pose challenges.