By Moaaz Manzoor

The Pakistani rupee remained largely stable in early April, trading within a narrow range against major global currencies as steady foreign exchange reserves and firm external inflows supported sentiment in the currency market, reports Wealth Pakistan.

According to the State Bank of Pakistan, the US dollar opened the month at 278.8452 (buying) and 279.2703 (selling) on April 1. By April 6, the exchange rate stood at 278.8024 and 279.2275. It edged slightly to 278.7886 and 279.2137 on April 7, remained at 278.7836 and 279.2087 on April 8, and moved to 278.7517 and 279.1768 on April 9. By April 10, the dollar closed at 278.7407 and 279.1658, indicating minimal fluctuations in the rupee-dollar parity during the period.

In the euro market, the rupee was quoted at 322.7697 (buying) and 323.2559 (selling) on April 1. By April 6, the currency stood at 321.3014 and 321.7893. It rose to 321.6363 and 322.1235 on April 7 and climbed further to 325.8907 and 326.3906 on April 8. The euro then eased to 325.1355 and 325.6291 on April 9 before closing at 325.7887 and 326.2839 on April 10.

The British pound traded at 369.8313 (buying) and 370.4072 (selling) on April 1. By April 6, it stood at 368.4045 and 368.9736. The pound increased to 368.8754 and 369.4416 on April 7 and surged to 374.1747 and 374.7658 on April 8. It later eased to 373.3664 and 373.9422 on April 9, before ending at 374.0529 and 374.6250 on April 10.

The Chinese yuan was quoted at 40.5563 (buying) and 40.6086 (selling) on April 1. By April 6, it stood at 40.5400 and 40.5918. The yuan increased to 40.5811 and 40.6333 on April 7 and further to 40.8509 and 40.9031 on April 8. It then eased to 40.8229 and 40.8753 on April 9 before settling at 40.8307 and 40.8834 on April 10.

The Saudi riyal remained within the range of 74.2636 to 74.2964 on the buying side and 74.3733 to 74.4068 on the selling side during the period, while the Japanese yen stayed within the range of 1.7447 to 1.7579 for buying and 1.7473 to 1.7605 for selling over the same period.

According to Arif Habib Limited, the rupee remained broadly stable against the US dollar, appreciating marginally by 0.03% week-on-week to 279.01 per dollar.

Meanwhile, Pakistan’s foreign exchange reserves held by the State Bank of Pakistan rose by $18.6 million, or 0.11% week-on-week, reaching $16.4 billion during the week ended April 3, 2026.

Similarly, remittances increased by 8% year-on-year to $30.3 billion during 9MFY26. Remittances by overseas Pakistanis decreased by 5% year-on-year to $3.8 billion in March 2026 compared to $4.1 billion in March 2025. On a month-on-month basis, however, remittances increased by 17%.

Pakistan’s Roshan Digital Account inflows also remained steady, with gross inflows reaching $12,426 million as of March 2026. Out of the total, $2,028 million had been repatriated and $7,983 million utilized locally, leaving a net repatriable liability of $2,415 million.

Analysts say the rupee’s stability reflects consistent reserve build-up and healthier external inflows, with the currency likely to remain range-bound in the near term barring any significant external shock.

Credit: INP-WealthPk