RECORDER REVIEW

KARACHI: The Pakistani rupee continued its marginal gain against the US dollar for another week, appreciating 0.03 percent in the inter-bank market.

The local unit closed at 277.41 against the greenback, a gain of Re0.09 from 277.50 it had closed at a week earlier.

Pakistan’s headline inflation clocked in at 11.1 percent on a year-on-year (YoY) basis in August 2026, up from 9.2 percent recorded in July, as shown by Pakistan Bureau of Statistics (PBS) data.

The country’s trade deficit widened by 18.1 percent year-on-year to USD7.12 billion during the first two months (July-August) of fiscal year 2026-27.

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by USD19 million to USD17.12 billion during the week ended August 28, 2026.

In its weekly reserves statement, the SBP said the country’s total liquid foreign exchange reserves stood at USD22.53 billion as of August 28, 2026. Of these, commercial banks held USD5.41 billion in net foreign exchange reserves.

Pakistan raised USD3 billion through a dual-tranche Eurobond sale that drew nearly USD6 billion in orders, Finance ministry said during the previous week.

The country raised USD1.75 billion through a 5.5-year bond at a coupon rate of 7.5 percent and USD1.25 billion through a 10-year bond at 7.9 percent, the ministry said.

In the open market, the PKR gained 1 paisa for buying and 8 paise for selling against USD, closing at 278.29 and 279.15, respectively.

Against Euro, the PKR gained 19 paise for buying and 23 paise for selling, closing at 322.53 and 325.32, respectively.

Against UAE Dirham, the PKR lost 5 paise for buying and remained unchanged for selling, closing at 75.68 and 76.29, respectively. Against Saudi Riyal, the PKR lost 2 paise for both buying and selling, closing at 73.95 and 74.49, respectively.