KARACHI: The rupee ended flat against the dollar in the interbank market on Wednesday. The rupee closed at 279.66 per dollar, largely unchanged from the previous close of 279.67.In the open market, the rupee settled at 280.71 against the dollar, maintaining the same level as in the previous session.
Dealers said the local currency remained stable due to healthy inflows.Pakistan’s remittances rose 15.4 per cent year-on-year (YoY) in January to $3.5 billion. However, these flows dropped 4.0 per cent on a month-on-month (MoM) basis.
Remittances increased 11.3 per cent to $23.2 billion in the first seven months of the fiscal year 2026.Remittance flows have sustained their levels, primarily due to the ongoing economic recovery in the country, which is supported by the International Monetary Fund’s (IMF) loan programme. The narrowing gap between the formal and informal foreign exchange markets, along with the continuation of the remittance incentive package, has also contributed to this increase. Additionally, there has been a rise in the number of individuals going abroad for work, supported by concerted diplomatic efforts.
