The Pakistani Rupee (PKR) showed a slight divergence between interbank and open market sessions today, as the US Dollar maintained a steady foothold.
According to the latest data from Forex.pk, the greenback was quoted at 280.1 for selling in the interbank market, while reaching 282.3 in the open market.
The interbank rates remained relatively stable with tight spreads between buying and selling prices, reflecting a controlled liquidity environment.
In the open market, the PKR faced slightly more pressure, with the spread for major currencies widening compared to the interbank rates. This trend often indicates higher retail demand for foreign exchange.
Major Regional & Global Currencies
The following table highlights the performance of other significant currencies in the open market.
Traders observed that while the interbank market remained disciplined, the open market reflected a premium of approximately Rs.2.20 for the US dollar.
The stability in the Saudi Riyal and U.A.E. Dirham suggests a steady flow of remittances, which continues to provide a necessary cushion for the local currency.
