KARACHI: Rupee depreciated during the previous week as it lost Re0.10 or 0.04% in the inter-bank market.
The local unit closed at 279.05, against 278.95 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
In a key development, Pakistan’s headline inflation clocked in at 2.4% on a year-on-year basis in January 2025, a reading below that of December 2024 when it stood at 4.1%, showed Pakistan Bureau of Statistics (PBS) data.
Meanwhile, foreign exchange reserves held by the SBP increased by $46 million on a weekly basis, clocking in at $11.42 billion as of January 31. Total liquid foreign reserves held by the country stood at $16.04 billion. Net foreign reserves held by commercial banks stood at $4.62 billion.
Open-market rates
In the open market, the PKR gained 7.00 paisa for buying and lost 7.00 paisa for selling against USD, closing at 278.69 up and 280.90, respectively.
Against Euro, the PKR gained 37.00 paisa for buying and 7.00 paisa for selling, closing at 289.03 and 292.09, respectively.
Against UAE Dirham, the PKR gained 2.00 paisa for buying and remained unchanged for selling, closing at 75.96 and 76.50, respectively.
Against Saudi Riyal, the PKR gained 4.00 paisa for buying and remained unchanged for selling, closing at 74.21 and 74.75, respectively.
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THE RUPEE
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Weekly inter-bank market rates for dollar
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Bid Close Rs. 279.05
Offer Close Rs. 279.25
Bid Open Rs. 278.95
Offer Open Rs. 279.15
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Weekly open-market rates for dollar
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Bid Close Rs. 278.69
Offer Close Rs. 280.90
Bid Open Rs. 278.76
Offer Open Rs. 280.83
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Copyright Business Recorder, 2025
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