KARACHI: Rupee gained further against the US dollar in the inter-bank market as it appreciated by Re0.73 or 0.26% during the previous week.
The local unit closed at 282.72, against 283.45 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
In a key development, US President Donald Trump said his administration struck a deal with Pakistan in which Washington would work with Islamabad in developing the South Asian nation’s oil reserves.
Meanwhile, Pakistan’s headline inflation clocked in at 4.1% on a year-on-year (YoY) basis in July 2025, a reading higher than that of June 2025, when it had stood at 3.2%, showed Pakistan Bureau of Statistics (PBS).
On a month-on-month basis, it increased by 2.9% in July 2025, as compared to an increase of 0.2% in the previous month and an increase of 2.1% in July 2024.
Foreign exchange reserves held by the SBP fell by $153 million on a weekly basis, reaching $14.30 billion as of July 25, the central bank said.
The country’s total liquid foreign reserves stood at $19.61 billion, including $5.30 billion held by commercial banks.
Contrary to expectations, the Monetary Policy Committee (MPC) of the SBP decided to keep the policy rate unchanged at 11%.
Open-market rates
In the open market, the PKR gained 84.00 paisa for buying and 1.25 rupee for selling against USD, closing at 284.62 and 285.30, respectively.
Against Euro, the PKR gained 10.06 rupees for buying and 10.56 rupees for selling, closing at 324.19 and 325.80, respectively.
Against UAE Dirham, the PKR gained 8 paise for buying and 30 paise for selling, closing at 77.45 and 77.70, respectively.
Against Saudi Riyal, the PKR remained unchanged for buying and gained 30 paisa for selling, closing at 75.75 and 76.00, respectively.
=========================================
THE RUPEE
=========================================
Weekly inter-bank market rates for dollar
=========================================
Bid Close Rs. 282.72
Offer Close Rs. 282.91
Bid Open Rs. 283.45
Offer Open Rs. 283.65
=========================================
Weekly open-market rates for dollar
=========================================
Bid Close Rs. 284.62
Offer Close Rs. 285.30
Bid Open Rs. 285.46
Offer Open Rs. 286.55
=========================================
Copyright Business Recorder, 2025
Comments
Comments are closed for this article.