Dollar steady at Rs 277.01 in interbank market

Karachi: The US dollar held steady against the Pakistani rupee in the interbank market on Wednesday, October 21, closing at Rs 277.01.

The greenback showed little movement through the session as supply and demand remained broadly balanced, with dealers describing trading as orderly and calm. The closing quote left the dollar unchanged from recent levels.

In the open market, the dollar traded at around Rs 279.5, maintaining the narrow gap between the interbank and open-market rates that currency dealers have observed in recent weeks.

Forex analysts said the rupee’s stability reflects steady remittance inflows and a relatively calm external payments position. ‘The market is well supplied at the moment, and there is no panic buying of dollars,’ one Karachi-based dealer said.

Traders will be watching upcoming remittance figures and the central bank’s policy signals for hints on the currency’s near-term direction. For now, the rupee’s calm run continues, offering some reassurance to importers and businesses planning their costs.