Karachi, August 28, 2025, 11:04 AM PKT – The State Bank of Pakistan (SBP) has introduced new foreign exchange policies aimed at stabilizing the Pakistani Rupee (PKR). These measures address fluctuations in the currency market and are designed to boost investor confidence while bridging the gap between official and open market exchange rates.
SBP’s Forex Policies for Stability
The central bank’s decision comes after a Financial Markets Association bulletin on August 27, which detailed exchange rates for the September 29 settlement. Key rates announced include:
- USD at PKR 281.80
- GBP at PKR 378.91
- EUR at PKR 326.86
- JPY at PKR 1.9060
SBP Governor Jameel Ahmad stated, “These measures will enhance market confidence and curb volatility.”
Targeted Interventions Against Fluctuations
The revised forex policies include targeted interventions to manage currency fluctuations:
- Stricter controls on speculative trading activities
- Increased reserve requirements for importers
- Daily monitoring of exchange rates
- Implementation of digital tools for real-time rate tracking by September 15
These adjustments mark the central bank’s most comprehensive forex interventions in recent months.
PKR’s Market Performance
The policy changes follow a 0.4% depreciation of the PKR against the USD since August 20. The State Bank aims to align interbank rates with open market trends. The USD reached PKR 282.50 in the open market, prompting the central bank’s action. Currency volatility continues to challenge importers and exporters in international trade.
Support from the Business Community
The Karachi Chamber of Commerce supports the central bank’s initiative. Chamber representatives urge additional support to help exporters sustain Pakistan’s trade competitiveness. “Stability is key for trade,” emphasized a chamber spokesperson, highlighting the need for predictable exchange rates for effective business planning. Exporters emphasize the importance of consistent forex policies to remain competitive internationally.
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