According to the Forex Association of Pakistan (FAP), the slight uptick, though modest, has sparked fresh speculation: Is the rupee bracing for another wave of depreciation?

In the open market, the dollar was being bought at Rs281.35 and sold at Rs282.85, as currency fluctuations continued to draw investor attention.

Meanwhile, the Euro weakened by Rs1.64, closing at Rs318.17, down from Rs319.81, according to the State Bank of Pakistan (SBP).

The Japanese Yen dipped by 03 paisa to settle at Rs1.93, while the British Pound saw a notable decline of Rs2.56, ending the day at Rs373.52, compared to its previous rate of Rs376.08.

On the other hand, slight gains were recorded in the Emirates Dirham, up by 02 paisa to Rs76.51, and the Saudi Riyal, which edged up 04 paisa to Rs74.94.

As minor fluctuations ripple across major currencies, market watchers are asking: Is this the calm before a bigger currency storm?