Pakistani Rupee Stays Stable Near 280 Against Dollar

The Pakistani rupee showed modest improvement this week, closing at 280.32 against the US dollar in the interbank market on Friday, up slightly from 280.41 at the start of the week. While the gains were minimal, they signal cautious stability amid ongoing economic pressures.

Modest Gains Under Central Bank Oversight

Market analysts say the rupee strengthened by just a few paisa per day, reflecting careful management by the State Bank of Pakistan (SBP) to prevent sharp currency swings that could affect external account stability. According to a note by Tresmark, the SBP is aiming to maintain calm in the forex market while avoiding sudden disruptions.

Stable Outlook for Rupee Through Early 2026

Analysts expect the rupee to hover near the 280-per-dollar level until the end of 2025, remaining largely range-bound into early 2026. Contributing factors include stable interest rates and steady global oil prices, which are helping keep currency volatility in check.

So far in the current fiscal year, the rupee has gained around 1.2 percent, supported by better foreign inflows, improved credit ratings, and progress under the IMF programme, according to Arif Habib Limited.

Trade Deficit and Remittances

Despite these gains, rising imports and shifting trade patterns could pressure the currency. November trade data revealed a deficit of $2.9 billion, driven by higher imports and weaker exports. Remittances provided some relief, increasing 9 percent year-on-year to $3.2 billion.

Analysts remain cautiously optimistic that central bank policies will continue to support the rupee, helping it remain relatively stable in the near term despite trade challenges.