In March, the Pakistani rupee (PKR) demonstrated resilience, maintaining stability against the US dollar (USD) while marking slight gains.

Throughout the month, the PKR experienced marginal fluctuations, witnessing minor increments and decrements in value.

Despite this, the overall trajectory showcased a modest uptick, with the local currency gaining 1.16 rupees against the USD, concluding the month at Rs277.95 per USD.

In Friday’s trading session alone, the PKR exhibited a noteworthy appreciation, strengthening by 8.61 paisa against the greenback.

During today’s trading activities, the currency displayed a range, reaching an intraday high bid of 278.45 and a low ask of 280.41.

Notably, throughout the current financial year, the PKR has displayed resilience, appreciating by 8.04 rupees against the Dollar, reflecting a 2.89 per cent increase. Similarly, within the scope of the current calendar year, the PKR has witnessed a gain of 3.91 rupees, equating to a 1.41 per cent appreciation.

In parallel, the State Bank of Pakistan (SBP) undertook strategic financial operations, including a reverse repo and Shariah Compliant Modarabah-based Open Market Operation (OMO) today.

Through these interventions, the SBP injected a cumulative total of Rs2.71 trillion into the market, underscoring efforts to maintain liquidity and stability within the financial landscape.