RECORDER REPORT
KARACHI: The Pakistani rupee posted marginal gain against the US dollar in the inter-bank market on Wednesday.
At close, the local currency settled at 279.66, a gain of Re0.01 against the greenback.
On Tuesday, the local currency closed at 279.67, according to the State Bank of Pakistan (SBP).
Pakistan’s central bank chief expects the economy to grow as much as 4.75% this fiscal year, pushing back against a recent downgrade by the International Monetary Fund (IMF).
The SBP raised its FY26 growth forecast to 3.75–4.75% at its January meeting, 0.5 percentage point higher than its previous range, despite a contraction in exports in the first half of the year and a widening trade deficit.
Meanwhile, the yen held on to solid gains on Wednesday as investors bet that Prime Minister Sanae Takaichi’s landslide election victory puts her in a strong position to pursue more fiscally responsible policies.
Elsewhere, the Aussie broke above $0.71 for the first time in three years.
The dollar wobbled ahead of the key US non-farm payrolls report due later on Wednesday, after a run of data overnight hinted at a softening in the world’s largest economy.
The yen was up nearly 0.4% against the dollar at 153.80, building on a 1% rise in the previous session that also saw it rally against other currencies.
The euro fetched 183.15 yen after a 1.2% drop on Tuesday, while sterling extended the previous day’s 1.3% fall against the Japanese currency and was down 0.28% at 210.00.
Trading was thinned in Asia due partly to a holiday in Japan.
Oil prices, a key indicator of currency parity, gained more than 2% on Wednesday, buoyed by potential supply risks should tensions between the US and Iran escalate, while draws of crude from key stockpiles suggested stronger demand.
Brent crude oil futures were up $1.52, or 2.2%, at $70.32 a barrel by 1320 GMT. US West Texas Intermediate crude rose $1.50, or nearly 2.4%, to $65.46.
Open-market movement
In the open market, the PKR gained 1 paisa for buying and remained unchanged for selling against USD, closing at 280.18 and 280.71, respectively.
Against Euro, the PKR lost 13 paise for buying and 11 paise for selling, closing at 333.43 and 336.34, respectively.
Against UAE Dirham, the PKR lost 5 paise for buying and 2 paise for selling, closing at 76.58 and 77.29, respectively.
Against Saudi Riyal, the PKR remained unchanged for buying and gained 1 paisa for selling, closing at 74.81 and 75.37, respectively.
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Open Bid Rs 280.18
Open Offer Rs 280.71
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday
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Open Bid Rs 279.66
Open Offer Rs 279.86
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RUPEE IN LAHORE: The Pakistani rupee remained flat against the US dollar but lost ground against the British pound in the local currency market on Wednesday.
Currency dealers said the rupee maintained the steady trend observed the previous day, with subdued trading activity against the greenback during the morning and intraday sessions. However, business activity picked up slightly in the closing session, helping the local currency hold its ground and finish firm.
At the close of the market, dealers said the rupee’s buying and selling rates remained unchanged from the previous day’s close at Rs 279.50 and Rs 281.50, respectively.
Meanwhile, the rupee showed weakness against the British pound on the buying side, closing at Rs 383.50 compared with Rs 382.50 in the previous session. However, its selling rate improved fractionally to Rs 386.00 against Tuesday’s Rs 386.50.
Copyright Business Recorder, 2026
