KARACHI: Rupee depreciated against the US dollar during the previous week as it lost Re0.31 or 0.11% in the inter-bank market.
The local unit closed at 280.47, against 280.16 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
It was a shorter week for currency trading due to Eid-ul-Fitr holidays. The market remained closed from Monday to Wednesday and traded for only last two days of the week.
In a key development, Pakistan’s headline inflation clocked in at 0.7% on a year-on-year basis in March 2025, a reading below that of February 2025 when it stood at 1.5%, showed Pakistan Bureau of Statistics (PBS) data. On a month-on-month basis, it increased by 0.9% in March 2025 as compared to a decrease of 0.8% in the previous month and an increase of 1.7% in March 2024.
Meanwhile, foreign exchange reserves held by the SBP increased by $70 million on a weekly basis, clocking in at $10.68 billion as of March 28. Total liquid foreign reserves held by the country stood at $15.58 billion. Net foreign reserves held by commercial banks stood at $4.90 billion.
Open-market rates
In the open market, the PKR lost 18 paise for buying and 13 paise for selling against USD, closing at 279.89 and 281.98, respectively. Against Euro, the PKR lost 6.83 rupees for buying and 7.03 rupees for selling, closing at 307.69 and 310.91, respectively.
Against UAE Dirham, the PKR lost 12 paise for buying and 19 paise for selling, closing at 76.11 and 76.74, respectively.
Against Saudi Riyal, the PKR lost 15 paise for buying and 9 paise for selling, closing at 74.39 and 74.98, 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. 280.46
Offer Close Rs. 280.66
Bid Open Rs. 280.21
Offer Open Rs. 280.41
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Weekly open-market rates for dollar
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Bid Close Rs. 279.89
Offer Close Rs. 281.98
Bid Open Rs. 279.71
Offer Open Rs. 281.85
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Copyright Business Recorder, 2025
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