The Pakistani Rupee (PKR) opened Monday’s session with relative stability against the US Dollar (USD), reflecting a cautious tone in the currency market ahead of major economic updates. The interbank market remained steady, while the open market showed continued demand for dollars amid ongoing import payments and informal liquidity pressure.
🏦 Interbank Opening Rates (USD to PKR)
- Buying Rate: PKR 282.15
- Selling Rate: PKR 282.15
Source: State Bank of Pakistan via Daily Ausaf
Analysis:
The interbank rate opened flat, indicating minimal overnight movement and suggesting central bank intervention or balanced demand-supply dynamics. The single quoted rate also hints at a possible stabilizing attempt by the State Bank amid pressure on external reserves and inflation concerns.
💵 Open Market Opening Rates (USD to PKR)
- Buying Rate: PKR 285.50
- Selling Rate: PKR 286.55
Source: HamariWeb and Forex.pk
Analysis:
The open market opened with a PKR 1.05 spread between buying and selling rates. The nearly PKR 4.40 premium over the interbank rate reflects continued high demand for physical dollars, possibly from importers, travelers, and remittance-based transactions. This gap is consistent with recent trends where informal market liquidity remains tight.
📊 Market Insight
- Premium in Open Market: The premium over the interbank rate continues to highlight underlying dollar demand and speculative activity.
- Stability Signals: The steady interbank rate and controlled open-market spread signal an attempt by monetary authorities to manage volatility.
- What to Watch: Traders and analysts will keep an eye on any foreign policy or trade developments, especially those that might affect remittance flows, external borrowing, or IMF conditions.
📌 Stay connected with www.dailyforex.pk for:
- Daily opening & closing USD/PKR rates
- Detailed forex trend analysis
- Live gold prices and economic updates from Pakistan and abroad