The UAE Dirham remained a focal point for the Pakistani economy on Wednesday, driven by the deep-rooted trade ties and the massive expatriate workforce in the Emirates. The interbank market saw the Dirham trading at a buying rate of Rs. 75.95 and a selling rate of Rs. 76.10. In the open market, the rates were slightly higher, with buying at Rs. 76.15 and selling at Rs. 77.25.
The Dirham’s performance is intrinsically linked to the inflow of remittances, which serve as a lifeline for Pakistan’s current account.
A stable Dirham ensures that the purchasing power of families reliant on overseas transfers remains protected. On the trade front, the UAE remains one of Pakistan’s largest trading partners; thus, a predictable exchange rate facilitated smoother transactions for the import of refined oil and the export of food products, contributing to a more balanced trade environment.
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