The Pakistani Rupee (PKR) started the day with a firm tone in the formal interbank segment, while the open market displayed a modest premium driven by retail dollar demand. Markets remain alert ahead of upcoming macro news and local liquidity movements.
🏦 Interbank Market – Opening Rates
- Buying Rate: PKR 283.10
- Selling Rate: PKR 283.10 (single-quoted, no spread)
Source: State Bank of Pakistan quoted interbank rate State Bank of Pakistan+5Hamariweb.com+5Hamariweb.com+5
Commentary:
The flat interbank rate signals limited volatility and balanced demand from commercial banks and exporters. The single-quoted rate also suggests stabilized supply pressure with no immediate fiscal or political shocks driving rate movement.
💵 Open Market – Opening Rates
- Buying Rate: PKR 285.25
- Selling Rate: PKR 285.25 (reported as a single mid-point rate)
Source: Forex.pk open-market update FOREX.pk
Commentary:
Open market rates reflect a ~PKR 2.15 premium over interbank levels, highlighting continued demand for physical dollars in informal markets. This gap is common in retail and importer-driven transactions in major cities.
📊 Opening Rate Overview
| Market Segment | Buying Rate | Selling Rate | Spread | Premium vs Interbank |
|---|---|---|---|---|
| Interbank | 283.10 | 283.10 | — | — |
| Open Market | 285.25 | 285.25 | — | ~PKR 2.15 |
🔍 Market Insight & Outlook:
- The single rates in both markets suggest open stability, with no immediate currency volatility.
- The open market premium underscores underlying cash demand, as physical USD remains a tighter commodity in informal sectors.
- With limited overnight shocks and relatively balanced flows, early sentiment appears cautious yet steady.
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