KARACHI: The Pakistani rupee posted marginal gain against the US dollar for another week as it appreciated by 0.03 percent in the inter-bank market.
The local unit closed at 277.87, a gain of Re0.09 against 277.96 it had closed at against the greenback a week earlier, according to State Bank of Pakistan (SBP) data. Credit ratings agency S&P Global raised Pakistan’s long-term sovereign credit rating to “B” from “B-” during the previous week, citing stronger institutional stability and effective implementation of reforms under an IMF programme. “The stable outlook reflects our view of Pakistan’s improved political and institutional settings. Entrenched economic reforms will bring about a sustained period of steady growth and fiscal consolidation,” said S&P.
Meanwhile, SBP’s foreign exchange reserves increased by USD 33 million during the week ended July 17, 2026, reaching USD 17.26 billion. The SBP said the country’s total liquid foreign reserves stood at USD 22.67 billion. Net foreign reserves maintained by commercial banks amounted to USD 5.41 billion. The central bank is scheduled to convene a meeting of its Monetary Policy Committee (MPC) on Monday to decide the benchmark policy rate.
Open-market rates
In the open market, the PKR gained 9.00 paisa for buying and lost 14.00 paisa for selling against USD, closing at 278.77 and 279.82, respectively.
Against Euro, the PKR gained 1.03 rupee for buying and 1.08 rupee for selling, closing at 318.88 and 321.77, respectively.
Against UAE Dirham, the PKR lost 12.00 paisa for buying and 17.00 paisa for selling, closing at 76.34 and 76.94, respectively.
Against Saudi Riyal, the PKR lost 12.00 paisa for buying and 16.00 paisa for selling, closing at 74.69 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. 277.87
Offer Close Rs. 278.07
Bid Open Rs. 277.96
Offer Open Rs. 278.16
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Weekly open-market rates for dollar
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Bid Close Rs. 278.77
Offer Close Rs. 279.82
Bid Open Rs. 278.86
Offer Open Rs. 279.68
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Copyright Business Recorder, 2026