The National Bank of Pakistan (NBP) released its daily foreign exchange bulletin on Monday, showing the rupee holding relatively stable against most major currencies while the euro and British pound inched higher.
Interbank Market Snapshot
In the interbank market, the US dollar traded at Rs282.15 for TT (telegraphic transfer) selling and Rs281.65 for buying, reflecting minimal movement from last week. The euro climbed slightly, trading at Rs330.35, while the pound sterling reached Rs381.57, signaling mild strength in European currencies.
The Japanese yen remained subdued at Rs1.92, and the Swiss franc stood at Rs352.95, maintaining its recent gains. Commodity-linked currencies such as the Canadian and Australian dollars hovered at Rs205.42 and Rs184.72, respectively, showing no dramatic swings despite global market volatility.
Regional and Gulf Currencies
Gulf currencies stayed largely stable. The Saudi riyal was quoted at Rs75.20, and the UAE dirham at Rs76.83 in TT selling rates. The Kuwaiti dinar continued to dominate as the most expensive foreign currency at Rs924.14.
Open Market/Cash Rates
In the open market, the dollar traded slightly higher at Rs283.56 for selling and Rs280.52 for buying. The pound was offered at Rs383.47, while the euro stood at Rs332.00.
Market Take
The largely flat currency trend suggests that the rupee is holding firm, supported by recent inflows and cautious central bank management. Minor gains in European currencies could be attributed to global dollar softness, while Gulf currencies remain pegged closely to the US dollar, showing little independent movement.
