KARACHI: The rupee barely changed against the dollar in the interbank market on Tuesday.The rupee closed at 277.46 per dollar, almost unchanged from its close of 277.47 in the previous session.In the open market, the local currency made meagre gains. It traded at 279.18 against the dollar, compared with 279.21 on Monday.
The local currency traded in a narrow band, as traders assessed the effects of rising inflation on the economy, particularly the central bank’s upcoming monetary policy review, due on September 14.
Pakistan’s consumer price index rose 11.5 per cent year-on-year (YoY) in August, according to data released by the Pakistan Bureau of Statistics.Core inflation increased slightly to 8.7 per cent YoY.“With inflation of 11.2 per cent for August 2026, real rates clocked in at 0.4 per cent, slightly above Pakistan’s historic average of 200-300 bps [basis points],” said Topline Securities in a note. “We expect FY27 inflation to clock in range of 8-8.5 per cent,” it added.
