The Pakistani rupee traded largely unchanged against the US dollar on Tuesday, offering some relief to importers and businesses facing cost pressures. The greenback stood at Rs 282.9 in the open market, with a selling rate of Rs 283.70.
Currency traders said the steady performance reflected strong regulatory oversight and adequate supply in the market. The interbank rate also matched the open market, underscoring the absence of major volatility.
Other global currencies posted moderate gains. The pound sterling was quoted at Rs 381.30–383.30, while the euro hovered between Rs 328.50 and Rs 330.30. The Canadian dollar climbed to Rs 210, and the Australian dollar traded at Rs 189.75 on the higher end.
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Gulf currencies, traditionally stable due to their peg with the dollar, remained firm. The Saudi riyal traded at Rs 76, and the UAE dirham at Rs 77.60. The Kuwaiti dinar and Omani riyal continued to be the most expensive, at Rs 926.35 and Rs 738.70 respectively.
Analysts welcomed the rupee’s stability but warned of looming risks. Rising oil prices, higher import bills, and global monetary tightening could exert fresh pressure. They stressed that Pakistan must boost exports to offset the growing demand for foreign currency.