The Pakistani Rupee (PKR) continued its upward trajectory against the US Dollar (USD) on Wednesday, marking the 11th consecutive day of appreciation. Both the interbank and open markets reflected this positive movement, indicating a stable demand-supply balance in the forex markets.
🏦 Interbank Market – Closing Rates
- Buying Rate: PKR 282.77
- Selling Rate: PKR 283.17
Source: Union Medical Book Shop
Market Insight:
The interbank market closed with a narrow spread of PKR 0.40, suggesting balanced liquidity conditions. The slight appreciation of the PKR indicates steady inflows and controlled demand for USD in formal banking channels.
💵 Open Market – Closing Rates
- Buying Rate: PKR 284.34
- Selling Rate: PKR 285.15
Source: Union Medical Book Shop
Market Insight:
The open market closed with a consistent premium over interbank rates, reflecting sustained demand for physical USD. This premium is typical in retail and cash-based transactions, indicating active participation from importers, remittance recipients, and retail buyers.
📊 Closing Rate Comparison
| Market Segment | Buying Rate | Selling Rate | Spread | Premium vs Interbank |
|---|---|---|---|---|
| Interbank | 282.77 | 283.17 | 0.40 | — |
| Open Market | 284.34 | 285.15 | 0.81 | ~PKR 1.57 |
🔍 Market Outlook
- The interbank market shows stability with minimal volatility, suggesting a controlled forex environment.
- The open market premium indicates continued demand for physical USD, driven by import activities and cash transactions.
- Traders and investors are advised to monitor upcoming economic indicators and global market trends, as these factors could influence the USD/PKR exchange rate in the near term.
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