The Pakistani Rupee (PKR) opened today’s trading session against the US Dollar (USD) with stability, showing minimal movement in formal interbank channels, while the open-market continues to carry a modest premium. According to available data, 1 USD is quoted around PKR 280.63 in the interbank market.
🏦 Interbank Market – Opening Rates
- Buying Rate: PKR 280.60
- Selling Rate: PKR 280.80
Derived from mid-point data near 280.63 PKR for 1 USD.
Market Insight:
The interbank market opened with a narrow spread (~PKR 0.20), indicating balanced liquidity and no major demand or supply shocks overnight. The Rupee’s stability in the formal banking sector suggests controlled flows in the early session.
💵 Open Market – Opening Rates
- Buying Rate: PKR 282.80
- Selling Rate: PKR 283.30
Estimated based on typical open-market premium (~PKR 2.00–2.50) over interbank levels.
Market Insight:
The open market opened with a premium of roughly PKR 2.00–2.50 over the interbank rate, reflecting continued demand for physical USD among importers, remittance recipients and retail buyers.
📊 Opening Rate Snapshot
| Market Segment | Buying Rate | Selling Rate | Spread | Approx. Premium vs Interbank |
|---|---|---|---|---|
| Interbank | 280.60 | 280.80 | ~0.20 | — |
| Open Market | 282.80 | 283.30 | ~0.50 | ~PKR 2.00–2.50 |
🔍 Market Outlook
- The interbank market’s narrow spread and stable quote signal no immediate pressure on the Rupee in formal channels.
- The open-market premium indicates ongoing demand for physical USD, though the gap remains moderate.
- Watch for major global-currency developments, any large remittance or export flows, and potential announcements from the State Bank of Pakistan (SBP) that may influence rate movement later today.
📌 For intraday updates, expert commentary and market report for today, keep visiting www.dailyforex.pk.