KARACHI: The rupee edged higher on Friday amid positive sentiment after Pakistan received a fresh $2 billion from Saudi Arabia and the current account balance posted a surplus for March and the nine months of the current fiscal year.
The rupee closed at 278.92 per dollar, up 0.01 per cent from its close of 278.95 in the interbank market.In the open market, the local currency also made slight gains. It traded at 280.2 against the dollar, compared with 280.23 in the previous session.
Chase Securities said in a note that Pakistan’s external account has shown notable resilience. The inflows from Saudi Arabia have provided timely support to foreign exchange reserves amid upcoming external repayments.
“The improving trend in monthly flows, alongside external financing support, is likely to keep near-term currency and liquidity concerns in check, reinforcing investor confidence,” it said.The country posted a current account surplus of 1.07 billion in March, marking the third consecutive monthly surplus. The surplus came at a $231 million in the previous month. On a cumulative basis, the current account recorded a surplus of $8 million in July-March FY26, compared with a surplus of $1.674 billion in the same period last year.
