KARACHI: The Pakistani rupee remained unchanged against the US dollar on Wednesday, closing at Rs154.95 in the interbank market—the same level as the previous day. According to currency dealers, the stability in the rupee was largely due to steady inflows from exports and workers’ remittances.
During the trading session, the rupee showed signs of appreciation in early hours, supported by healthy inflows of foreign exchange through export receipts and remittances. However, increased demand for dollars from importers and the corporate sector later in the day absorbed the upward momentum, keeping the rupee flat by close of business.
The interbank foreign currency market opened within a narrow range of Rs154.87 to Rs154.92. It hit a day’s high of Rs154.95 and a low of Rs154.90, before closing at Rs154.95, mirroring the previous session’s closing level. This reflects a balanced demand and supply scenario, where the positive effect of inflows was neutralized by import-related demand.
In the open market, the exchange rate also remained stable, with the buying and selling of the US dollar recorded at Rs154.40 and Rs154.70, respectively—unchanged from the prior day. This indicates minimal volatility in the cash-ready market, often driven by individual and commercial transactions.
Currency analysts expect the rupee to remain range-bound in the short term, with further direction depending on the continuity of inflows and the volume of upcoming import payments. Stable remittance flows and export earnings will be key to supporting the local rupee in coming sessions.