Moaaz Manzoor

The Pakistani rupee maintained a stable and tightly managed trajectory throughout December 2025, posting narrow week-on-week movements against major global currencies as disciplined exchange-rate management, controlled market liquidity, and limited speculative pressure supported sentiment, according to data released by the State Bank of Pakistan.

SBP data show that the rupee opened December on 1st at 280.2596 (buying) and 280.6847 (selling) against the US dollar. By the first weekly close on December 5, it edged slightly firmer to 280.1671 and 280.5922. The currency stood at 280.0736 and 280.4987 on December 12, improved to 280.0067 and 280.4318 by December 19, and strengthened marginally to 279.9236 and 280.3487 in the final full trading week ending December 26. The rupee closed the month on December 31 at 279.8539 (buying) and 280.2790 (selling), reflecting a stable and controlled range throughout the month.

The euro exhibited moderate fluctuations during December. It opened at 325.0062 (buying) and 325.4965 (selling), strengthened to 326.6509 and 327.1442 by December 5, rose further to 328.6767 and 329.1680 on December 12, eased to 328.1022 and 328.5930 on December 19, climbed to 329.7667 and 330.2707 by December 26, and settled at 328.4526 and 328.9464 at month-end.

The British pound followed a similar pattern, beginning the month at 370.5558 (buying) and 371.1253 (selling). It advanced to 373.8854 and 374.4642 on December 5, moved higher to 375.0932 and 375.6566 by December 12, softened to 374.4986 and 375.0916 on December 19, strengthened to 377.7412 and 378.3092 on December 26, and closed December at 376.6071 and 377.1953.

The Chinese yuan traded within a consistently tight range, opening at 39.6260 (buying) and 39.6762 (selling) and gradually rising to 40.0187 and 40.0698 by December 31. The Saudi riyal also remained stable, moving narrowly from 74.7058 and 74.8150 at the start of the month to 74.6170 and 74.7259 at month-end. Meanwhile, the Japanese yen weakened modestly, declining from 1.8015 (buying) and 1.8042 (selling) on December 1 to 1.7871 and 1.7897 by the end of the month.

Syed Zafar Abbas, Manager at Zahid Latif Khan Securities, told Wealth Pakistan that the rupee remained technically strong throughout the year. He noted that government interest payments amounting to $3.2 billion were made during the year and were smoothly absorbed by the market. “Because of that, the dollar has not been affected. It means that the dollar has not appreciated,” he said, adding that the rupee has behaved well technically, remaining under reasonable control with slight appreciation.

Analysts said the rupee’s stability in December reflects disciplined exchange-rate management and controlled market conditions, supporting expectations of a steady currency trajectory heading into the new year.

Credit: INP-WealthPk