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.
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.
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.
| 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 |
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