The Pakistani rupee (PKR) on Thursday held steady against the US dollar (USD), reflecting adequate supply of foreign currency in the market and balanced demand-supply dynamics.
According to the State Bank of Pakistan (SBP), the interbank foreign exchange market closed with the dollar at Rs279.41, almost unchanged from the previous day’s closing of Rs279.42, showing a marginal increase of one paisa.
Currency analysts attributed the stability to cautious import activity amid ongoing tensions in the Middle East, which reduced immediate demand for dollars. At the same time, exporters actively sold dollars to take advantage of favorable exchange rates, providing additional support to the rupee.
Economists predict that the rupee is likely to remain stable in the coming days, buoyed by strong workers’ remittances and steady inflows of foreign currency. However, they caution that the geopolitical situation in the Middle East and Gulf region could impact economic forecasts for Pakistan and other regional economies.
Experts further warned that rising global energy prices, particularly due to the conflict in Iran, may create upward pressure on import costs, which could affect the PKR’s performance if tensions escalate.
For now, market participants remain cautiously optimistic, closely monitoring foreign exchange trends, global oil prices, and geopolitical developments to gauge the rupee’s trajectory in the short term.
The SBP continues to ensure adequate liquidity in the interbank market, aiming to maintain stability and confidence in Pakistan’s currency amid external challenges.