Pakistani Rupee Gains Slightly Against US Dollar, Shows Mixed Trend Across Global Currencies

The Pakistani rupee showed a mixed performance on Monday, registering a slight gain against the US dollar in the inter-bank market while fluctuating against other major global currencies.

According to data released by the State Bank of Pakistan (SBP), the rupee settled at Rs. 281.01 at the close of trading, appreciating by Rs. 0.01 compared to Friday’s closing rate. The minor increase comes after a stable week, reflecting a steady trend in currency markets despite global volatility.

During the previous week, the rupee had gained Rs. 0.08 or 0.03 percent, closing at Rs. 281.02 compared to Rs. 281.10 a week earlier. In the open market, exchange companies quoted the dollar at Rs. 281.10 for buying and Rs. 282.05 for selling, showing minimal movement in retail trade.

The rupee’s performance against other currencies varied. It weakened slightly against the euro, dropping 7.72 paisa or 0.02 percent to close at Rs. 326.50, compared to Rs. 326.43 a day earlier. Against the British pound, it also fell marginally by 4.81 paisa, settling at Rs. 374.11 from Rs. 374.06.

However, the local unit strengthened against the Swiss franc, gaining 71.64 paisa or 0.20 percent to close at Rs. 352.47. It also edged higher by 0.07 percent against the Japanese yen, closing at Rs. 1.8370 compared to Rs. 1.8383 previously.

On the other hand, the rupee depreciated against the Chinese yuan, losing 6.02 paisa or 0.15 percent, and closed at Rs. 39.51. It slipped slightly by 0.03 paisa against the Saudi riyal, ending at Rs. 74.93, while showing a mild gain of 0.16 paisa against the UAE dirham, finishing at Rs. 76.51.

Currency experts believe that the rupee’s movement reflects a balanced foreign exchange environment, supported by stable remittance inflows and controlled import demand. However, they caution that global oil prices, interest rate trends, and geopolitical tensions could still influence exchange rates in the coming weeks.

So far, in the current fiscal year, the rupee has appreciated by Rs. 2.76 or 0.98 percent against the dollar. In contrast, during the ongoing calendar year, it remains weaker by Rs. 2.46 or 0.88 percent, showing how exchange trends can shift between short- and long-term economic cycles. Dawn