KARACHI: The Pakistan rupee extended its marginal upward trend for another week, appreciating by Re0.08 or 0.09% against the US dollar in the interbank market.
The local unit closed at 278.77, against 278.85 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
The SBP increased the policy rate by 100 basis points (bps) to 11.50 percent in its third Monetary Policy Committee (MPC) meeting of 2026. This was the central bank’s first hike in almost three years.
Pakistan’s headline inflation clocked in at 10.9 percent on a year-on-year basis in April 2026, as shown by Pakistan Bureau of Statistics data, a reading higher than the Ministry of Finance’s estimate of 8-9 percent.
Foreign exchange reserves held by the SBP rose by USD730 million to USD15.83 billion during the week ended April 24, 2026. The increase was mainly due to receipt of Pakistan Eurobond proceeds.
Open-market rates
In the open market, the PKR gained 12 paise for both buying and selling against USD, closing at 279.23 and 280.05, respectively.
Against Euro, the PKR gained 10 paise for buying and 12 paise for selling, closing at 325.92 and 329.09, respectively.
Against UAE Dirham, the PKR lost 3 paise for buying and 2 paise for selling, closing at 76.07 and 76.89, respectively.
Against Saudi Riyal, the PKR lost 6 paise for buying and 4 paise for selling, closing at 74.37 and 75.08, respectively.
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Weekly inter-bank market rates for dollar
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Bid Close Rs. 278.77
Offer Close Rs. 278.97
Bid Open Rs. 278.85
Offer Open Rs. 279.05
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Weekly open-market rates for dollar
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Bid Close Rs. 279.23
Offer Close Rs. 280.05
Bid Open Rs. 279.35
Offer Open Rs. 280.17
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Copyright Business Recorder, 2026