Interbank closing: Pakistani rupee gains 10 paisa against US dollar

The Pakistani rupee (PKR) demonstrated resilience for the third consecutive session against the US dollar (USD), marking a 0.04 per cent appreciation in the interbank market on Thursday, according to the State Bank of Pakistan (SBP).

The PKR settled at Rs283.51 after an increase of Rs0.10. This positive trend follows Wednesday’s marginal gain, where the rupee settled at Rs283.61 against the USD.

In contrast to major currencies, the local currency experienced a loss of Rs2.64 against the Euro, closing at Rs308.49 compared to the previous value of Rs305.85.

The British Pound strengthened by Rs2.91, concluding at Rs357.96 in comparison to Rs355.05 from the preceding day.

The Swiss franc also witnessed gain of Rs1.46, closing at 325.35 compared to Rs323.89 in the previous session.

Against the Japanese yen, PKR lost 5.23 paisa, settling at Rs1.9972 versus Rs1.9449 a day ago.

In the ongoing financial year, the PKR has appreciated against the dollar by Rs2.48, or 0.87 per cent.

However, in the current calendar year, it has depreciated by Rs57.08, or 20.13 per cent.

In a related development, the Asian Development Bank (ADB), in its latest report, Asian Development Outlook (ADO), highlighted that Pakistan’s overall recovery is still constrained by moderate confidence and high inflation eroding purchasing power.

The ADB noted that Pakistan’s inflation rate averaged 28.5 per cent over July–October but is expected to ease amid fiscal consolidation, monetary tightening, and improved availability of food and key imported inputs.