Karachi, April 16, 2025: The Pakistani rupee strengthened slightly against the US dollar on Wednesday, gaining 11 paisas in the interbank foreign exchange market.
At the close of trading, the rupee stood at PKR 280.46 against the dollar, compared to the previous day’s closing of PKR 280.57 in the interbank market.
Currency dealers attributed the modest appreciation of the rupee to easing pressure from foreign payments, particularly those linked to import clearances and quarter-end corporate transactions. The relative stability in the interbank market helped lift sentiment surrounding the local currency.
One of the key supporting factors for the rupee in the interbank exchange was the recent surge in overseas remittances. According to the State Bank of Pakistan (SBP), Pakistani workers sent home a record $4.1 billion last month, the highest figure ever recorded in a single month. While this did not cause a significant spike in the rupee’s value, it did offer essential support to cushion the currency from further depreciation.
Analysts believe that the rupee is also benefiting from improving macroeconomic indicators, with a slight uptick in industrial activity and signs of increasing export potential. However, they caution that the growing demand for imported raw materials could soon lead to renewed dollar buying in the interbank market, which may put pressure on the rupee once again.
Global factors are also playing a role. A stronger US dollar, fueled by ongoing geopolitical instability and global trade tensions, continues to challenge emerging market currencies. The Pakistani rupee, though currently holding firm in the interbank market, remains vulnerable to external shocks.
Looking ahead, the performance of the rupee in the interbank market will hinge on sustained financial inflows, particularly from the IMF and ongoing remittances. “The rupee has shown resilience in recent days, but its long-term stability depends on consistent economic support and investor confidence,” one analyst noted.