The Pakistani rupee opened the week with modest gains against the US dollar, supported by a stable demand outlook and improved foreign exchange inflows from exports and remittances.
During intra-day trading on Monday, the rupee appreciated by Re0.20 or 0.07%, reaching Rs280.90 in the inter-bank market at 10:20am, compared to the previous closing rate of Rs281.10.
Currency dealers attributed the slight recovery to controlled import payments, steady exporter inflows, and market confidence that the central bank would continue to maintain exchange rate stability.
“The rupee’s movement remains within a narrow range, which shows that the market is balanced between inflows and outflows,” a forex trader told Business Recorder. “However, global trends and oil price volatility continue to influence investor sentiment.”
According to the State Bank of Pakistan (SBP), the rupee had posted a minor weekly gain of 0.02% last week, reflecting relative calm in the inter-bank market despite persistent external pressures.
In international markets, the US dollar edged higher against major currencies, with the Japanese yen falling to 150.96 per dollar amid expectations that Sanae Takaichi, known for her pro-stimulus stance, is likely to become Japan’s next prime minister.
Meanwhile, oil prices — a key factor for Pakistan’s import bill — slipped for a third straight week. Brent crude was trading at $61.05 per barrel, down 0.4%, while US WTI crude dropped 0.4% to $57.33, as traders grew concerned about a potential supply glut and slowing global demand.
Analysts expect the rupee to remain range-bound in the coming days, with fiscal discipline and external financing flows determining its direction in the short term.
