According to market data, the Pakistani Rupee appreciated by 01 paisa compared to the previous closing rate of Rs279.52. Though the gain was small, it signaled a modest improvement in the interbank market.
Data shared by the Forex Association of Pakistan showed that in the open market, the US Dollar was being bought at Rs280.40 and sold at Rs282.30, reflecting a gap between interbank and open market rates.
Meanwhile, figures released by the State Bank of Pakistan revealed mixed trends in other major currencies.
The Euro strengthened by Rs0.62 and closed at Rs329.81 compared to Rs329.19 a day earlier.
Read more: KSE-100 Index drops 1,632 points at PSX - what triggered the slide?
The Japanese Yen remained unchanged at Rs1.79. However, the British Pound increased by Rs1.50 to close at Rs378.08, up from Rs376.58 in the previous session.
Among Gulf currencies, the Emirates Dirham slipped by 01 paisa to close at Rs76.09, while the Saudi Riyal remained stable at Rs74.50.
Currency experts say even small changes in exchange rates are closely watched, as they impact import costs, inflation and overall economic confidence.
The Rupee’s gain is very small, but it shows some balance in the market. However, open market rates remain higher. This means pressure is still there. The coming days will show if this stability continues or not.
