Pakistani rupee maintains narrow trading range amid cautious market sentiment

The Pakistani rupee remained largely stable against major foreign currencies on Monday, trading within a tight band in both interbank and open markets as investors exercised caution amid global and domestic uncertainties.

By midday, the US dollar was quoted at Rs279.35 for buying and Rs279.85 for selling in the interbank market. In the open market, the greenback changed hands slightly higher at Rs280.35 for buying and Rs282.15 for selling, according to forex.pk.

Other major currencies showed controlled movement in the open market. The euro traded at Rs330.75 for buying and Rs335.28 for selling, while the British pound was quoted at Rs377.90 and Rs382.16, respectively.

Among regional currencies, the UAE dirham was available at Rs76.35 for buying and Rs77.35 for selling, and the Saudi riyal stood at Rs74.88 and Rs75.65. The Canadian dollar was being traded at Rs203.68 on the buying side and Rs207.00 on the selling side.

Dealers said the rupee’s performance reflected a cautious, range-bound pattern with minimal volatility in either market segment. Market participants are closely monitoring global interest rates, commodity prices, regional geopolitical developments, and domestic economic indicators for signs that could influence short-term direction.

Overall, the local currency showed controlled fluctuations, signaling stability amid external and internal economic pressures.