KARACHI (Web Desk) – The Pakistani rupee strengthened further against the US dollar in the interbank market on Wednesday, while the dollar rate remained stable in the open market.
According to reports, positive economic signals played a key role in boosting the rupee.
The State Bank governor’s claim that the economy is performing better than IMF expectations, along with rising remittances from overseas Pakistanis, helped improve market sentiment.
Experts expect monthly remittances to reach up to $4 billion in the coming months, with total inflows projected at $42 billion for the year 2026. This steady inflow of foreign currency has given the rupee a shot in the arm.
Crackdowns against hawala, smuggling, black money, and terror financing also contributed to the dollar’s decline in the interbank market, keeping it under pressure throughout the trading session.
During the day, the dollar dropped by 27 paisas at one point to Rs279.66. However, as demand increased, it settled at Rs279.66 by the close, down by one paisa compared to the previous session.
In contrast, the open currency market remained calm, with the dollar holding steady at Rs280.71 without any change.
Market analysts say rising foreign exchange reserves on a weekly basis and expectations that official reserves could reach $18 billion by June 2026 have further strengthened confidence.
The rupee appears to be holding its ground for now, but traders are keeping a close eye on upcoming economic developments.