RECORDER REVIEW

KARACHI: Rupee posted marginal gain against the US dollar during the previous week as it appreciated by Re0.05 or 0.02% in the inter-bank market.

The local unit closed at 281.66, against 281.71 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).

During the previous week, the central bank said it had received the second tranche of Special Drawing Rights (SDR) 760 million, equivalent to $1.02 billion, from the International Monetary Fund (IMF). The amount will be reflected in SBP’s foreign exchange reserves for the week ending on May 16, 2025.

Meanwhile, Pakistan’s current account (C/A) posted slight surplus of $12 million in April 2025, against massive surplus of $1.2 billion (revised) last month, SBP data showed. On year-on-year (YoY) basis, the C/A decreased 96% against a surplus of $315 million (revised) recorded in the same month last year.

Pakistan’s Real Effective Exchange Rate (REER), a measure of the value of a currency against a weighted average of several foreign currencies, dropped to 99.42 in April 2025, down from 101.55 (revised) in March 2025.

Inflows through the Roshan Digital Account (RDA) clocked in at $177 million in April, reflecting a decline of 25% compared to $235 million in March 2025, SBP said.

Open-market rates

In the open market, the PKR lost 87 paise for buying and 39 paise for selling against USD, closing at 282.65 and 283.75, respectively.

Against Euro, the PKR gained 42 paise for buying and 1.32 rupee for selling, closing at 315.96 and 318.56, respectively.

Against UAE Dirham, the PKR lost 26 paise for buying and 2 paise for selling, closing at 76.99 and 77.45, respectively.

Against Saudi Riyal, the PKR lost 31 paise for buying and 4 paise for selling, closing at 75.26 and 75.70, respectively.