RECORDER REVIEW

KARACHI: The Pakistani rupee continued to post marginal gain against the US dollar, appreciating 0.03 percent in the inter-bank market during the previous week.

The local unit closed the week at 278.25, a gain of Re0.07 against 278.32 it had closed the earlier week.

The Monetary Policy Committee (MPC) of the SBP decided to keep the policy rate unchanged at 11.5 percent. The MPC met for the fourth time this year. The decision was in line with market expectations.

Pakistan’s current account posted a surplus of USD 459 million in May 2026.

The surplus followed a deficit of USD 276 million recorded in April 2026 and a deficit of USD 44 million in May 2025.

The foreign exchange reserves held by the SBP increased by USD 6 million during the week ended June 12, 2026, reaching USD 17.221 billion.

The reserves held by commercial banks amounted to USD 5.521 billion, taking the overall liquid foreign reserves of the country to USD 22.742 billion. The Asian Development Bank (ADB) approved a USD 700 million policy-based loan to support reforms aimed at strengthening insurance in Pakistan. The programme seeks to expand insurance coverage and reduce protection gaps.

The Insurance Transformation Programme will strengthen Pakistan’s financial resilience by deepening insurance markets and expanding financial protection for households, businesses, farmers, and public finances against extreme weather events, disasters, and life-cycle risks.

Open-market rates

In the open market, the PKR gained 3 paise for buying and 1 paisa for selling against USD, closing at 278.64 and 279.54, respectively.

Against Euro, the PKR gained 3.22 rupees for buying and 2.64 rupees for selling, closing at 319.21 and 322.99, respectively.

Against UAE Dirham, the PKR lost 8 paise for buying and 6 paise for selling, closing at 75.95 and 76.59, respectively.

Against Saudi Riyal, the PKR lost 10 paise for buying and 7 paise for selling, closing at 74.28 and 74.87, respectively.