RECORDER REVIEW
KARACHI: Pakistan rupee continued its winning streak for another week as it gained Re0.10 or 0.04 percent against the US dollar in the inter-bank market.
The local unit closed at 281.55, against 281.65 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP). Finance Minister Muhammad Aurangzeb during the previous week expressed confidence that inflationary pressures would remain under control, aided by lower oil prices, as he outlined the government’s rescue, relief, and infrastructure rehabilitation efforts in response to the ongoing floods in the country.
Meanwhile, the inflow of overseas workers’ remittances into Pakistan stood at $3.1 billion in August 2025, SBP data showed.
Remittances increased by 7 percent year-on-year (YoY), compared to USD2.9 billion recorded in the same month last year. On a monthly basis, remittances were down 2 percent, compared to USD3.2 billion in July.
The foreign exchange reserves held by the SBP increased by USD34 million on a weekly basis, clocking in at USD14.34 billion as of September 5, 2025. Total liquid foreign reserves stood at USD19.68 billion, while net foreign reserves held by commercial banks amounted to USD5.34 billion.
The Pakistan Virtual Asset Regulatory Authority (PVARA) issued a call for expressions of interest (EoI) from established global exchanges and virtual asset service providers (VASPs) seeking to enter Pakistan’s digital economy.
Last month, the PVARA, in its first board meeting, deliberated on withdrawing the SBP 2018 ban on virtual currencies while setting out a roadmap for AI-driven risk management, licensing, and regulatory frameworks.
Open-market rates
In the open market, the PKR gained 21 paise for buying and 49 paise for selling against USD, closing at 282.06 and 282.61, respectively. Against Euro, the PKR lost 2.33 rupees for buying and gained 3.29 rupees for selling, closing at 331.23 and 334.16, respectively.
Against UAE Dirham, the PKR lost 41 paise for buying and 83 paise for selling, closing at 77.24 and 77.93, respectively. Against Saudi Riyal, the PKR lost 25 paise for buying and 50 paise for selling, closing at 75.38 and 75.90, respectively.
