According to the State Bank of Pakistan, the Rupee appreciated by 02 paisa, closing at Rs281.70 against the previous day’s closing of Rs281.72. While the change seems small, analysts believe even minor strengthening signals confidence among traders.
In the open market, however, the picture remained mixed. The Forex Association of Pakistan reported the buying and selling rates of the dollar at Rs282.6 and Rs283.4 respectively, reflecting persistent demand pressure.
Other major currencies painted a diverse picture. The Euro climbed by 33 paisa, closing at Rs328.33 compared to Rs328.03 earlier. The British Pound also strengthened notably, rising by 58 paisa to settle at Rs377.74 from Rs377.16. Meanwhile, the Japanese Yen remained unchanged at Rs1.89.
Among Gulf currencies, the Emirates Dirham dipped by 01 paisa while the Saudi Riyal closed flat at Rs75.07, indicating little movement in the regional basket.
Though the Rupee’s appreciation of 02 paisa may look insignificant, it reflects cautious optimism in interbank trading. The open market gap, however, continues to raise concerns, as demand-driven pressures push the buying and selling rates of the dollar above Rs282.
Read more: Honda CG 125 2026 installment plan unveiled
The strengthening of the Euro and Pound suggests that global currencies are maintaining upward momentum against the Rupee, adding mixed signals to the outlook. Meanwhile, the stability of the Saudi Riyal and Dirham points to limited movement in Gulf-linked remittance flows.
Market observers believe the coming weeks will be crucial in determining whether the Rupee’s micro-gains can translate into sustainable strength or if rising import bills and external obligations will reignite depreciation pressure.
