The Pakistani Rupee (PKR) opened Wednesday’s trading session with a slight depreciation against the US Dollar (USD), following a marginal appreciation in the previous day’s interbank market. The open market continued to reflect a premium over interbank rates, indicating sustained demand for physical USD.
🏦 Interbank Market – Opening Rates
- Buying Rate: PKR 281.42
- Selling Rate: PKR 281.62
Market Insight:
The interbank market opened with a narrow spread of PKR 0.20, suggesting balanced liquidity conditions. The slight depreciation of the PKR indicates moderate demand for USD in formal banking channels, with no significant volatility observed at the start of the trading day.
💵 Open Market – Opening Rates
- Buying Rate: PKR 282.90
- Selling Rate: PKR 283.50
Market Insight:
The open market opened 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.
📊 Opening Rate Comparison
| Market Segment | Buying Rate | Selling Rate | Spread | Premium vs Interbank |
|---|---|---|---|---|
| Interbank | 281.42 | 281.62 | 0.20 | — |
| Open Market | 282.90 | 283.50 | 0.60 | ~PKR 1.48 |
🔍 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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