KARACHI: The Pakistani rupee depreciated against the US dollar in the inter-bank market as it lost Re0.25 or 0.09% during the previous week.
The local unit closed at Rs280.72, against Rs280.47 it had closed at during the week earlier, according to the State Bank of Pakistan (SBP). In a key development, Pakistan’s current account (C/A) posted a significant surplus of $1.2 billion in March 2025, against a deficit of $97 million (revised) last month, SBP data showed.
On year-on-year (YoY) basis, the C/A increased 230% against a surplus of $363 million (revised) recorded in the same month last year. Pakistan’s Real Effective Exchange Rate (REER), a measure of the value of a currency against a weighted average of several foreign currencies, dropped to 101.62 in March 2025, down from 102.25 (revised) in February 2025.
Meanwhile, foreign exchange reserves held by the SBP decreased by $127 million on a weekly basis, clocking in at $10.57 billion as of April 11. Total liquid foreign reserves held by the country stood at $15.66 billion. Net foreign reserves held by commercial banks stood at $5.09 billion.
Open-market rates
In the open market, the PKR lost 25.00 paisa for buying and 20.00 paisa for selling against USD, closing at 280.40 and 282.30, respectively. Against Euro, the PKR lost 1.72 rupee for buying and 1.59 rupee for selling, closing at 317.78 and 320.98, respectively.
Against UAE Dirham, the PKR lost 19.00 paisa for buying and 5.00 paisa for selling, closing at 76.30 and 77.03, respectively. Against Saudi Riyal, the PKR lost 10.00 paisa for buying and 6.00 paisa for selling, closing at 74.56 and 75.24, 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. 280.71
Offer Close Rs. 280.91
Bid Open Rs. 280.46
Offer Open Rs. 280.66
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Weekly open-market rates for dollar
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Bid Close Rs. 280.40
Offer Close Rs. 282.30
Bid Open Rs. 280.15
Offer Open Rs. 282.10
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Copyright Business Recorder, 2025
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