Pakistani Rupee Holds Ground Against Major Currencies
The Pakistani rupee maintained a steady trend against major foreign currencies on Wednesday, with slight fluctuations noted in the open market. Currency dealers reported that the rupee showed resilience amid ongoing economic pressures, reflecting stable demand and supply conditions.
According to the latest quotes from exchange companies, the US Dollar was being bought at Rs283 and sold at Rs283.80. The Euro stood firm at Rs328 for buying and Rs329.70 for selling, while the British Pound remained higher at Rs379.85 and Rs381.75 respectively.
In the Gulf region’s currencies, the UAE Dirham was priced at Rs77.05 and Rs77.25, whereas the Saudi Riyal traded at Rs75.35 and Rs75.55. Among the stronger currencies, the Kuwaiti Dinar remained the highest, fetching Rs915.35 to Rs923.35, followed by the Bahraini Dinar at Rs749.30 to Rs751.80, and the Omani Riyal at Rs733.90 to Rs736.40.
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Other currencies also displayed minor movement. The Canadian Dollar hovered between Rs203 and Rs208, the Australian Dollar was seen at Rs182 and Rs187, and the Singapore Dollar traded between Rs217.50 and Rs222.50. The Chinese Yuan, Japanese Yen, and Indian Rupee showed only fractional changes.
Market analysts said the rupee’s steadiness was largely due to limited speculative activity and controlled demand for foreign currencies. They added that while the current trend was positive, international oil prices, global currency movements, and import payments would continue to shape market conditions in the coming weeks.