Karachi: Pakistani Roupie should remain stable compared to the US dollar next week after the country has reported a current account surplus for April, despite the general expectations of a deficit.
A positive feeling prevails in the market concerning the economy of Pakistan, fueled by several developments: a truce between India and Pakistan after the recent military climbing which represented the worst tensions for decades; The Central Bank receiving the second tranche of $ 1.02 billion in the International Monetary Fund (IMF) in the context of a prolonged funding of $ 7 billion; And the country’s current account displaying a lower excess of $ 12 million, despite the increase in imports.
The current account surplus dropped to $ 12 million, an amazing drop of 99% compared to the previous month. In annual shift, the surplus dropped by 96%. During the 10 months of fiscal 2025, the surplus reached $ 1.88 billion, showing a significant improvement compared to a deficit of $ 1.33 billion in the same period last year.
The rupe has maintained its stability, negotiating in certain forks compared to the dollar. The local currency closed at 281.56 for the dollar on the interban market on Monday and 281.61 Friday. Given this trend, traders and analysts believe that the rupee will continue along this trajectory, supported by the recent disbursement of the IMF loan and the current account surplus.
“The increase in dollar demand for import payments has put pressure on the rupee, but we do not think that it will violate the level of 281 in dollars in the coming week,” said a currency merchant.
In April, imports of goods increased 18% in annual sliding to $ 5.237 billion, compared to $ 4.44 billion the same month in the previous year. On a monthly basis, imports of goods also increased by 6.0%.
The actual actual exchange rate (RRSP) depreciated to 99.4 in April, against 101.6 the previous month.
The exchange reserves held by the Pakistan State Bank amounted to $ 10.4 billion on May 9. The payment of the IMF loan increased SBP reserves, but the bank said that the modifications would appear in its reserves for the week ending on May 16.
