KARACHI: The rupee was little changed against the dollar in the interbank market on Monday.The rupee ended at 280.1 per dollar, compared with the previous close of 280.11.In the open market, the rupee stayed flat. It closed at 281.15 against the dollar, unchanged from the previous close.
Dealers said the local currency stayed stable due to equilibrium between the demand and supply of dollars in the market. Furthermore, the persistent rise in the foreign exchange reserves also supported the rupee.
The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $13 million to $15.915 billion as of December 26, due to an improvement in the current account balance and the central bank’s dollar purchases from the currency market. The SBP’s reserves are expected to increase steadily, reaching $17 billion by the end of June.
The SBP purchased a whopping $1 billion from the interbank FX market in September. It bought a total of $6.9 billion worth of foreign currency from the market over the last 12 months (from October 2024 to September 2025).
