Overview
- On Monday, Aug. 3 the interbank dollar edged lower to about PKR 277.77–277.80, signaling only a marginal gain for the rupee after a week of little movement.
- The State Bank of Pakistan's Monetary Policy Committee left the policy rate unchanged at 11.5 percent in its first meeting of the new fiscal year, a move described as consistent with market expectations.
- SBP-held foreign-exchange reserves fell to roughly USD 17.03 billion, leaving total liquid reserves at about USD 22.44 billion and narrowing the central bank's immediate buffer for external payments.
- Open‑market (parallel) dollar quotes traded a few rupees wider than interbank rates, for example around PKR 278.65–279.85, which reflects differences in retail cash demand and market liquidity.
- Market participants say the exchange rate is likely to stay calm near current levels but could move quickly if external financing, import demand, oil prices or geopolitical events change the flow of dollars into the country.