The Pakistani rupee recorded a meagre gain against the US dollar, appreciating 0.08% during the opening hours of trading in the inter-bank market on Thursday, reported 24NewsHD TV channel.
As per the information available from currency dealers, the Pakistani rupee was hovering at Rs282.45, a gain of Re0.22, against the greenback.
On Wednesday, the local currency had settled at Rs282.67.
Interbank closing #ExchangeRate for todayhttps://t.co/erP9jWSGMK#sbpexchangerate pic.twitter.com/3ZJylcvKOi
— SBP (@StateBank_Pak) August 6, 2025
According to reports, the government’s efforts to artificially bring down the dollar rate are faltering, with market forces pushing back against a Rs250 exchange rate target and foreign currencies reportedly vanishing from the open market.
A crackdown on dollar smuggling launched on July 23 has led to a minor depreciation of around Rs3 in both the open and interbank markets. However, this has done little to bridge the gap between market sentiment and official expectations. The dollar continues to trade above Rs280, and a noticeable shortage has emerged.
Reporter Ashraf Khan