KARACHI – The Pakistani rupee remained stable against the US dollar on Thursday, closing unchanged in a session marked by subdued trading activity in the interbank market.
According to dealers, the rupee ended the day at Rs155.89 per dollar, mirroring the previous day’s closing level. The interbank foreign exchange market opened the day with the rupee fluctuating between Rs155.86 and Rs155.88. During the session, the rupee touched a high of Rs155.90 and a low of Rs155.86, ultimately closing flat at Rs155.89.
Market participants attributed the stability in the exchange rate to minimal demand for foreign currency from importers and corporate sectors. “There was no major outflow or payment pressure observed today, which helped the rupee stay firm,” a currency dealer said.
However, the situation was slightly different in the open market, where the rupee came under mild pressure. The dollar was traded at Rs155.80 for buying and Rs156.10 for selling, compared to the previous day’s rates of Rs155.50 and Rs156.00, respectively. This reflected a marginal depreciation in the rupee value in retail-level trading.
Currency analysts noted that overall trading volumes were thin, and both interbank and open market transactions reflected cautious sentiment ahead of upcoming economic data and external inflows. With the absence of any major economic triggers, the local currency maintained a narrow trading band throughout the session.
Experts believe the rupee may continue to exhibit stability in the near term, provided there are no sudden spikes in demand for the dollar. They also cited relatively stable foreign exchange reserves and improved remittance inflows as key factors supporting the rupee.
Despite the calm in Thursday’s trading, market watchers remain attentive to global developments, including movements in oil prices and potential changes in monetary policies by major central banks, which could influence the direction of the rupee in the coming days.