The Pakistani Rupee appreciated by three paisa against the US dollar in interbank trading on Friday. The currency closed at Rs281.37 compared to Rs281.40 on the previous day, according to the State Bank of Pakistan (SBP).
In the open market, however, the dollar showed stability. The Forex Association of Pakistan reported buying and selling rates at Rs282.35 and Rs282.40, respectively.
Other major currencies also witnessed mixed trends. The Euro fell by Rs1.66, closing at Rs328.58 compared to Rs330.24 a day earlier. The Japanese yen slipped by two paisa to Rs1.87, while the British Pound lost Rs2.36, settling at Rs375.82 from Rs378.18.
Among Gulf currencies, the Emirates Dirham registered a minor decline of one paisa, ending at Rs76.60. The Saudi Riyal, however, remained unchanged at Rs75.02.
Analysts noted that the slight appreciation of the Rupee against the dollar reflects stable supply and demand conditions in the market. They added that fluctuations in other major currencies were influenced by international market movements and changing investor sentiment.
Currency experts believe that the Rupee’s performance in the coming weeks will depend on global oil prices, remittance inflows, and Pakistan’s trade balance. They said any major shift in the US dollar internationally could also impact local exchange rates.
The government’s recent steps to improve reserves and manage external financing are expected to keep the Rupee relatively stable in the short term.
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