Overview
- The rupee recorded a tiny inter‑bank gain, closing at 277.71, a roughly 0.03% appreciation from the prior week as reported in Business Recorder.
- Open‑market dollar quotes varied around the high 278s with different outlets showing buy rates near 278.4–278.7 and sell rates near 278.8–279.9, reflecting a split between official and street markets.
- State Bank of Pakistan‑held reserves rose by about USD 13 million to USD 17.04 billion for the week ended July 31 while total liquid reserves stood at USD 22.47 billion, figures that remain modest against import needs.
- Underlying pressures include July headline inflation at 9.2% year‑on‑year and a more than 25% jump in the July trade deficit to USD 3.95 billion, driven by an 18% rise in import payments.
- External drivers are also at play as a firmer dollar and higher Brent crude push regional currencies lower even as India reported a large weekly rise in reserves, which helps explain near‑term volatility.