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 277.25 against the greenback, a gain of Re0.07 from 277.32 it had closed at a week earlier.
Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by USD3.061 billion to USD21.389 billion during the week ended Sept. 11, 2026.
In its weekly reserves statement, the SBP said the country’s total liquid foreign exchange reserves stood at USD26.791 billion as of Sept. 11, 2026. Of these, commercial banks held USD5.402 billion in net foreign exchange reserves.
“During the week ended on 11-Sep-2026, SBP’s FX reserves increased by USUSD 3,061 million to USUSD 21,389.0 million,” the central bank said.
The SBP attributed the increase to the receipt of Pakistan’s Eurobond proceeds.
Pakistan has won an international award for its CNY1.75 billion (USD258 million) Sustainable Panda Bond, with Finance Minister Muhammad Aurangzeb saying the country plans to return to China’s capital market with further debt issues.
Pakistan won the Pioneer Sustainable Sovereign Panda Bond Issuer Award at the 2026 APAC Climate Bonds Awards.
“The 3-year bond at 2.5 percent attracted 5x+ demand — opening a new pool of global capital, diversifying sovereign financing and strengthening Pakistan-China financial ties,” Adviser to the Finance Minister, Khurram Schehzad, said in a post on a social media platform on Wednesday.
The SBP Monetary Policy Committee (MPC), in its second meeting in the fiscal year 2026-27, decided to keep the policy rate unchanged at 11.5 percent.
The MPC met for the sixth time this calendar year. The decision was in line with market expectations.
Open-market rates
In the open market, the PKR gained 3.00 paisa for buying and lost 5.00 paisa for selling against USD, closing at 278.19 and 279.10, respectively.
Against Euro, the PKR gained 3.24rupees forbuying and 3.32rupees for selling, closing at 318.87 and 321.72, respectively.
Against UAE Dirham, the PKR gained 1.00 paisa for buying and 3.00 paisa for selling, closing at 75.65 and 76.25, respectively.
Against Saudi Riyal, the PKR gained 1.00 paisa for both buying and selling, closing at 73.95 and 74.47, respectively.
