The Pakistani rupee remained largely stable against the US dollar on Thursday, closing in a tight range-bound session in the interbank foreign exchange market.
The rupee settled at Rs156.36 per dollar, marginally weaker than the previous day’s closing of Rs156.35. The currency movement reflected minimal fluctuations, as trading remained range bound for the entire session. The rupee opened the day within a narrow range of Rs156.30 to Rs156.40, touching a high of Rs156.38 and a low of Rs156.35 before settling at Rs156.36.
Currency market analysts attributed the stability of the rupee to a combination of reduced import payments and softer dollar outflows. These factors collectively helped keep demand for the greenback in check. However, they noted that pressure on the rupee persists due to continued foreign debt repayments, which are expected to keep the currency’s upward momentum constrained within a bound range.
“The rupee is currently operating within a tightly managed band,” said a senior currency trader. “While inflows have improved and import bills are slightly lower, the ongoing debt servicing obligations are capping any sharp gains. As a result, we’re witnessing a consistent range-bound trend.”
In the open market as well, the rupee showed no movement. The buying and selling rates of the dollar remained unchanged at Rs156.00 and Rs156.50, respectively. Dealers noted that retail demand for foreign currency remained modest, and no significant volatility was observed.
Experts believe that unless there is a major shift in either external inflows or policy-related developments, the rupee is likely to trade within this defined range in the short term. This bound pattern has created a sense of predictability for importers and exporters, although volatility could resurface around future debt maturity deadlines or if oil prices spike.
With the rupee holding firm and trading in a consistent range, market participants are now looking ahead to upcoming economic data releases and any policy cues from the central bank that could nudge the currency out of its current range-bound trajectory.