Karachi – The interbank currency rates indicate a largely stable exchange environment, suggesting a temporary equilibrium in Pakistan’s foreign exchange market. The US dollar continues to trade within a narrow band, recorded at Rs 278.75 (buying) and Rs 279.25 (selling), reflecting controlled volatility.
European currencies, including the euro and Swiss franc, maintained higher valuations, pointing to sustained strength in global markets. The British pound remained notably firm, crossing Rs 376 in the selling range, underscoring its resilience.
Currencies linked to remittance inflows, particularly the Saudi riyal and UAE dirham (not listed but comparable), remained stable, which is crucial for Pakistan’s external account support. Meanwhile, Asian currencies such as the Chinese yuan and Hong Kong dollar showed minimal movement, indicating limited regional volatility.
Economic experts suggest that while short-term stability is encouraging, structural challenges in Pakistan’s external sector and dependence on imports may continue to exert pressure on the rupee in the medium term.
