The Pakistani Rupee (PKR) ended Monday’s trading session with minor fluctuations against the US Dollar (USD), reflecting measured sentiment across both the interbank and open markets. While the interbank market showed signs of slight appreciation in the Rupee, the open market retained a noticeable premium, indicating steady demand for the greenback in informal channels.
🏦 Interbank Market – Closing Rates
- Buying Rate: PKR 282.72
- Selling Rate: PKR 283.22
Source: Business Recorder, SBP-reported interbank rates
Market Commentary:
The interbank market saw the Rupee gain slightly, closing stronger by approximately 24 paisa from the previous session. This moderate improvement comes amid subdued dollar demand from commercial banks and controlled market sentiment. The narrow spread of just PKR 0.50 also suggests balanced trading and possible central bank oversight to maintain PKR stability in formal channels.
💵 Open Market – Closing Rates
- Buying Rate: PKR 285.30
- Selling Rate: PKR 286.30
Source: Forex.pk, HamariWeb open market rates
Market Commentary:
The open market continued to show stronger dollar demand, closing with a PKR ~3.00 premium over the interbank rate. This demand likely stems from retail buyers, importers, and travelers seeking physical USD, which remains slightly scarce due to limited inflows. The broader gap highlights an ongoing divergence between formal exchange mechanisms and real-market cash flows.
📊 Summary of Today’s Market
| Market Type | Buying Rate | Selling Rate | Spread | Premium vs Interbank |
|---|---|---|---|---|
| Interbank | 282.72 | 283.22 | 0.50 | — |
| Open Market | 285.30 | 286.30 | 1.00 | ~PKR 3.00 |
🔍 Key Observations:
- The interbank rate closed firm as the Rupee slightly recovered, possibly supported by central bank liquidity operations.
- The open market rate reflects genuine USD demand pressure, with a significant markup from the interbank benchmark.
- Traders and analysts now await external factors like remittance inflows, import payment cycles, and global commodity pricing to gauge the PKR outlook for the coming days.
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