KARACHI: The Pakistani rupee extended its marginal gain against the US dollar for another week, appreciating 0.03 percent in the inter-bank market.
The local unit closed at 276.82 against the greenback, a gain of Re0.09 from 276.91 it had closed at a week earlier, according to State Bank of Pakistan (SBP) data. The International Monetary Fund (IMF) in its latest report warned of rising inflationary pressures in Pakistan amid the Middle East conflict, saying the country might need tighter monetary policy if the regional crisis persisted and price risks intensified.
Meanwhile, Federal Minister for Finance and Revenue Muhammad Aurangzeb said structural reforms were under way to stabilise Pakistan’s economy, with the government focusing on export-led sustainable growth, improving the tax system, reducing energy costs, and encouraging the private sector.
Addressing a ceremony at a private university in Lahore, the finance minister said Pakistan needed to move away from its historical boom-and-bust economic cycle towards a growth trajectory that could generate employment opportunities and ensure that the benefits of economic progress reach the people.
Pakistan posted a gross domestic product (GDP) growth of 3.65 percent during FY2026, estimates released by the Pakistan Bureau of Statistics (PBS) showed. The growth was lower than the 3.70 percent estimated by the National Accounts Committee (NAC) during the previous meeting, indicating a slower pace of economic expansion than earlier expected. Foreign exchange reserves held by the SBP rose by USD19 million on a weekly basis to USD21.49 billion as of October 16, 2026. The country’s total liquid foreign reserves stood at USD26.83 billion, including USD5.34 billion held by commercial banks.
Open-market rates
In the open market, the PKR lost 10 paise for buying and 7 paise for selling against USD, closing at 277.57 and 278.71, respectively.
Against Euro, the PKR gained 79 paise for buying and 62 paise for selling, closing at 310.55 and 313.55, respectively.
Against UAE Dirham, the PKR lost 3 paise for buying and 4 paise for selling, closing at 75.60 and 76.20, respectively.
Against Saudi Riyal, the PKR lost 6 paise for buying and 11 paise for selling, closing at 73.93 and 74.51, respectively.
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Weekly inter-bank market rates for dollar
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Bid Close Rs. 276.82
Offer Close Rs. 277.02
Bid Open Rs. 276.91
Offer Open Rs. 277.11
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Weekly open-market rates for dollar
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Bid Close Rs. 276.82
Offer Close Rs. 277.02
Bid Open Rs. 277.47
Offer Open Rs. 278.64
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Copyright Business Recorder, 2026