USD to PKR Exchange Rate (October 23, 2025)

The Pakistani Rupee (PKR) opened today’s trading session against the US Dollar (USD) in a broadly steady stance, reflecting muted volatility in both formal and informal channels. While the interbank market shows marginal movement, the open-market continues to carry a modest premium, signalling ongoing demand for physical dollars amid controlled liquidity.

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🏦 Interbank Market – Opening Rates

• Buying Rate: PKR 281.50
• Selling Rate: PKR 281.70

Market Insight:
The interbank market opened with a tight spread (approx. PKR 0.20), indicating balanced liquidity. The rate suggests limited pressure from demand or supply shocks overnight, and formal banking channels appear relatively calm heading into the day.

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💵 Open Market – Opening Rates

• Buying Rate: PKR 283.00
• Selling Rate: PKR 283.50

Market Insight:
The open market continues to trade at a premium over the interbank rate (~PKR 1.30–1.80), pointing to continued demand for USD in cash/retail channels. Importers and remittance services are likely sustaining this spread as physical dollar availability remains the key driver.

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📊 Opening Rate Comparison

Market Segment	Buying Rate	Selling Rate	Spread	Approx. Premium vs Interbank
Interbank	281.50	281.70	~0.20	—
Open Market	283.00	283.50	~0.50	~PKR 1.30–1.80

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🔍 Market Outlook

• Stability dominates the interbank market this morning, with no large directional swings evident.
• Open market premium remains a feature of the cash-dollar segment, reflecting physical demand rather than speculative pressure.
• Key watch-points for today include any commentary from the State Bank of Pakistan (SBP), significant remittance inflows/outflows, and global USD strength or weakness.
• Should fresh macroeconomic data or external flows emerge, the modest premium may tighten or widen accordingly.

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