Karachi, March 24, 2026 – The Pakistani rupee posted a modest gain against the US dollar on Tuesday, supported by strong inflows and regulatory measures, despite pressure from import payments and elevated global oil prices linked to tensions involving Iran.
According to the State Bank of Pakistan (SBP), the rupee appreciated by 3 paisa in the interbank market, closing at Rs279.22 against the dollar, compared to Rs279.25 in the previous session recorded before the extended holidays.
Currency market analysts noted that the local unit showed resilience even as trading resumed after a four-day break due to Eid ul-Fitr and Pakistan Day celebrations. Typically, post-holiday sessions see increased demand for dollars to settle import payments, which can put pressure on the rupee.
However, steady inflows from overseas workers’ remittances and export proceeds helped stabilize the currency. Experts also pointed to the ongoing crackdown against illegal money transfer channels, including hawala and hundi, jointly carried out by the SBP and the Federal Investigation Agency (FIA), as a key factor supporting the rupee.
The currency’s stability is particularly notable given the current global environment, where rising oil prices have increased Pakistan’s import bill. As a country heavily reliant on imported petroleum products, higher crude prices typically weigh on the rupee by increasing demand for foreign exchange.
Despite these challenges, the rupee’s slight appreciation reflects improved market confidence and effective regulatory oversight. Analysts expect the currency to remain range-bound in the near term, influenced by external factors, inflows, and energy prices.