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The Pakistani rupee continued its upward momentum on Wednesday, inching higher against the US dollar in the interbank market. The local currency settled at Rs. 280.96, marking a slight gain of Rs. 0.01 from Tuesday’s close of Rs. 280.97 its strongest level in nearly six months.
In the open market, exchange companies quoted the greenback at Rs. 281.05 for buying and Rs. 282.05 for selling. The steady appreciation of the rupee reflects improved market sentiment following the government and State Bank’s assurance that further depreciation of the local currency is unlikely.
According to analysts, the rupee’s recent stability stems from controlled imports, consistent remittance inflows, and better foreign exchange reserves.
“Market confidence has improved as economic indicators point toward gradual stabilization,” a forex trader commented.
The rupee also recorded gains against several major currencies, including the euro, pound, and Swiss franc, though it saw a minor dip against the Chinese yuan.
| Currency | Rate (Rs.) | Change | % Change |
| US Dollar | 280.96 | +0.01 | +0.00% |
| Euro | 326.71 | +0.72 | +0.22% |
| British Pound | 371.18 | +3.29 | +0.88% |
| Swiss Franc | 352.52 | +1.08 | +0.31% |
| Chinese Yuan | 39.58 | -0.007 | -0.02% |
So far in the fiscal year, the rupee has strengthened by Rs. 2.81 or 1.00% against the dollar, while on a calendar-year basis, it has posted a mild depreciation of Rs. 2.41 or 0.86%.
