KARACHI: The Pakistani rupee posted marginal gain for another week as it appreciated by 0.03 percent in the inter-bank market against the US dollar.
The local unit closed the week at 278.52, up by Re0.09 from 278.61 it had closed a week earlier against the greenback, according to the State Bank of Pakistan (SBP) data.
Pakistan and the International Monetary Fund (IMF) will continue discussions on the federal budget for fiscal year 2027 in the coming days, following the conclusion of a staff-level visit in which both sides reviewed recent economic developments, fiscal targets, and progress on reforms under the country’s ongoing loan programmes.
An IMF mission led by Iva Petrova concluded its staff visit to Islamabad between May 13-20, 2026. The staff visit focused on recent economic developments, reform implementation, and the budget strategy for fiscal year (FY) 2027.
“We had constructive discussions with the authorities on recent economic developments, including the impact of ongoing disruptions from the conflict in the Middle East, the FY2027 budget formulation, and progress on the reform agenda under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF),” said Petrova.
Meanwhile, Pakistan’s current account posted a deficit of USD324 million in April 2026. The deficit followed a surplus of USD1,134 million recorded in March 2026 and a deficit of USD12 million in April 2025.
Foreign exchange reserves held by the SBP increased by USD1.21 billion on a weekly basis, reaching USD17.08 billion as of May 15, 2026. The country’s total liquid foreign reserves stood at USD22.59 billion during the week under review. Of these, net foreign reserves held by commercial banks amounted to USD5.51 billion.
Open-market rates
In the open market, the PKR gained 20 paise for buying and 26 paise for selling against USD, closing at 278.83 and 279.56, respectively.
Against Euro, the PKR gained 1.71 rupee for buying and 1.50 rupee for selling, closing at 322.50 and 325.97, respectively.
Against UAE Dirham, the PKR gained 19 paise for buying and 18 paise for selling, closing at 75.73 and 76.57, respectively.
Against Saudi Riyal, the PKR gained 29 paise for buying and 21 paise for selling, closing at 73.95 and 74.76, respectively.
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Weekly inter-bank market rates for dollar
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Bid Close Rs. 278.52
Offer Close Rs. 278.72
Bid Open Rs. 278.61
Offer Open Rs. 278.81
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Weekly open-market rates for dollar
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Bid Close Rs. 278.83
Offer Close Rs. 279.56
Bid Open Rs. 279.03
Offer Open Rs. 279.82
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Copyright Business Recorder, 2026
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