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 278.61, up by Re0.09 from 278.70 it had closed a week earlier against the greenback, according to the State Bank of Pakistan (SBP) data.
Pakistan issued its first USD250 million Panda Bond in China’s onshore capital market, with the demand for the inaugural tranche alone exceeding the country’s entire planned Panda Bond programme size of RMB 7.2 billion (USD1 billion equivalent), Advisor to the Finance Minister Khurram Schehzad said.
The central bank received about USD1.3 billion from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF). The amount would be reflected in SBP’s foreign exchange reserves for the week ending on May 15, 2026.
The inflow of overseas workers’ remittances into Pakistan stood at USD3.54 billion in April 2026, SBP data showed. Remittances decreased by 7.6 percent on month-on-month basis and registered an increase of 11.4 percent on year-on-year basis.
Open-market rates
In the open market, the PKR gained 11 paise for both buying and selling against USD, closing at 279.03 and 279.82, respectively.
Against Euro, the PKR gained 3.19 rupees for buying and 3.04 rupees for selling, closing at 324.21 and 327.47, respectively.
Against UAE Dirham, the PKR gained 6 paise for both buying and selling, closing at 75.92 and 76.75, respectively.
Against Saudi Riyal, the PKR gained 9 paise for buying and 11 paise for selling, closing at 74.24 and 74.97, respectively.
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Weekly inter-bank market rates for dollar
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Bid Close Rs. 278.61
Offer Close Rs. 278.81
Bid Open Rs. 278.70
Offer Open Rs. 278.90
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Weekly open-market rates for dollar
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Bid Close Rs. 279.03
Offer Close Rs. 279.82
Bid Open Rs. 279.14
Offer Open Rs. 279.93
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Copyright Business Recorder, 2026