In the interbank market on Wednesday, the Pakistani rupee recorded a 0.08 percent appreciation against the US dollar during the early trading session.
According to sources, at 11:30 am the rupee strengthened by 23 paisas to reach Rs279.93 against the dollar. It is worth noting that the local currency had closed at Rs280.16 on Tuesday.
Sources said that the State Bank of Pakistan purchased a significant amount of foreign exchange worth $1 billion from the interbank market in September 2025, indicating a notable increase in its market intervention amid improved foreign inflows.
Following the latest purchase, the State Bank’s total foreign exchange purchases from the market over the past year (from October 2024 to September 2025) have reached $6.9 billion, reflecting continued efforts to stabilize foreign exchange reserves.
On the international front, the US dollar remained steady on Wednesday but was heading toward its largest annual decline since 2017. The main factors behind this decline include interest rate cuts, fiscal concerns, and uncertain trade policies during the presidency of Donald Trump, which negatively impacted currency markets throughout 2025.
Reports indicate that concerns over the independence of the Federal Reserve (the US central bank) under the Trump administration remain in focus.
The euro held steady at $1.1747, while the pound sterling was trading at $1.3463 on the last business day of the year.
