The Pakistani Rupee (PKR) closed Tuesday’s trading session on a mixed note against the US Dollar (USD), reflecting stability in the interbank market and continued premium in the open market. While official channels showed a slight appreciation in the Rupee, the open market remained under pressure due to steady demand for physical dollars.
🏦 Interbank Market – Closing Rates
- Buying Rate: PKR 283.35
- Selling Rate: PKR 283.85
Source: State Bank of Pakistan (SBP) reported rates
Market Commentary:
The interbank market remained largely stable throughout the session. The narrow spread of PKR 0.50 indicates a balanced demand-supply situation, with exporters and financial institutions cautiously observing external cues such as U.S. inflation expectations and geopolitical developments. The SBP’s liquidity management also played a role in curbing volatility.
💵 Open Market – Closing Rates
- Buying Rate: PKR 285.25
- Selling Rate: PKR 286.25
Source: Open market dealers via HamariWeb and Forex.pk
Market Commentary:
The open market continued to reflect higher demand for USD, maintaining a premium of around PKR 1.40 over the interbank rate. Demand was driven by import payments, cash remittances, and speculative buying. Currency dealers in major hubs like Karachi and Lahore report that physical dollar availability remained tight, keeping the exchange rate elevated.
📊 Market Summary
| Market Segment | Buying Rate | Selling Rate | Spread | Premium vs Interbank |
|---|---|---|---|---|
| Interbank | 283.35 | 283.85 | 0.50 | — |
| Open Market | 285.25 | 286.25 | 1.00 | ~PKR 1.40 |
🔍 Key Observations
- The interbank market showed resilience and minor appreciation in the PKR, aided by subdued external payment pressure.
- The open market remained firm due to retail demand and cash flow mismatches, sustaining a healthy premium over the interbank.
- Traders are watching upcoming US inflation data and local macroeconomic developments for cues on future Rupee direction.
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