KARACHI: The Pakistani rupee ended steady against the US dollar in the interbank market on Thursday.The rupee closed at 279.2 per dollar, compared with the previous closing rate of 279.21.The rupee also remained flat at 280.27 against the dollar in the open market.
Dealers said the local currency held steady as dollar inflows from exporters’ greenback selling and remittances were sufficient to meet the importer demand.Market sentiment improved due to optimism surrounding the reports of ceasefire talks, increasing hopes for a potential de-escalation of regional tensions. However, the situation remains fragile, with underlying uncertainties still present due to the confusion about Middle East peace negotiations. Oil prices remain volatile, which is a concerning development for the country’s inflation expectations and external account outlook.
Dealers anticipate that the rupee will remain stable in the coming sessions, supported by a consistent rise in foreign exchange reserves. So far, the local currency has shown resilience and has not been significantly affected by geopolitical developments.
