Pakistani currency market witnessed calm trading on August 19 as the Rupee maintained its position against major foreign currencies, including the US Dollar.
According to updates from currency exchanges, the US Dollar was bought at Rs 284.65 and sold at Rs 285.25 in the open market. In the interbank, it was noted at Rs 282.15, showing no major difference from Monday’s rate of Rs 284.
Market experts suggested that this steadiness reflected controlled demand and supply conditions. They said that although the Rupee had experienced pressure from rising imports, remittances from abroad were supporting the local currency. Some traders also highlighted that investors were waiting for fresh policy signals before making major moves.
Other international currencies traded within a narrow range. The British Pound stood at Rs 382.90, the Euro at Rs 330.30, and the Canadian Dollar at Rs 210. Among Gulf currencies, the Saudi Riyal was recorded at Rs 76, the UAE Dirham at Rs 77.60, and the Qatari Riyal at Rs 77.94. The Japanese Yen remained comparatively low at Rs 1.90.
