USD to PKR Stabilizes as Rupee Shows Strength in Early 2026

USD to PKR rates in Pakistan on January 3, 2026, indicate growing stability as the Pakistani Rupee shows consolidation against the US Dollar. The narrowing difference between interbank and open market rates highlights improving confidence in the currency market, an indicator closely watched by the IMF and global investors.

According to the State Bank of Pakistan (SBP) and exchange companies, the interbank dollar rate remained stable at PKR 280.12, while the open market rate eased to around PKR 282.45, showing slight appreciation. This reduced gap reflects calmer trading conditions and improved demand-supply balance in the foreign exchange market.

A currency dealer noted, “The shrinking spread between official and open market rates suggests speculative activity has reduced and market confidence is gradually returning.”

The current consolidation follows policy rate adjustments introduced in late 2025 to control inflation and support external stability. The government’s commitment to a market-based exchange rate has discouraged hoarding and speculative trading, helping align official and open market prices.

At the same time, SBP’s foreign exchange reserves have improved after recent inflows and now stand near $15.9 billion. Consistent overseas Pakistani remittances through formal channels have also boosted liquidity in the interbank market.

Analysts believe continued remittance inflows and disciplined economic policies could help the rupee remain stable in the near term, though global dollar trends and import pressures will remain key factors.