Karachi, March 17, 2026 – The Pakistani rupee strengthened slightly against the US dollar on Tuesday, with the State Bank of Pakistan (SBP) reporting an appreciation of 3 paisa in the interbank market. The local currency closed at Rs279.27 per dollar, up from Monday’s closing of Rs279.30.
Despite a tense geopolitical situation and rising global oil prices, analysts say the rupee found support from steady remittance inflows and exporters converting their dollars. Exporters were reportedly encouraged to exchange foreign currency due to the continued appreciation of the rupee, helping stabilize the currency market.
The ongoing Iran war has disrupted global shipping, particularly affecting Gulf trade routes. Many importers are taking a cautious “wait and see” approach, which is also influencing currency dynamics. Analysts caution that prolonged conflict could further impact trade flows and currency stability.
Meanwhile, Pakistan reported a current account surplus of $427 million in February 2026, reflecting stronger external sector fundamentals. Experts believe that the combination of remittance inflows, export proceeds, and a positive current account balance has helped offset external pressures and contributed to the rupee’s modest gain.
The SBP emphasized that the foreign exchange market remains under close observation, and currency stability will be maintained through continued policy measures to support trade, remittances, and market liquidity.