KARACHI: The Pakistani rupee declined against the US dollar in the interbank market on Wednesday.The rupee closed at 282.47 per dollar, compared with the previous close of 282.21. The local unit fell by 0.09 per cent during the session.
Dealers said the rupee maintained its downward trend due to increased dollar demand from importers.Pakistan unveiled its annual budget for the next fiscal year, starting in July, on Tuesday.
Pakistan’s GDP has recorded a growth of 2.68 per cent in FY25, compared with 2.51 per cent in FY24. Going forward, the government has set an ambitious GDP growth target of 4.2 per cent for FY26.
As Pakistan enters FY26, the macroeconomic environment reflects early signs of stabilisation, supported by declining inflation, a low interest rate environment, and an improved external account position, wrote Arif Habib Limited in a note.
Another encouraging sign is the current account balance, which is expected to reach a surplus of $1.5 billion in FY25, compared with $1.3 billion last year, it said.“The SBP adopted a monetary easing stance, reducing the policy rate to 11 per cent in May. In FY26, the monetary policy will remain calibrated to support economic recovery while anchoring inflation expectations,” it added. “Despite these positive developments, several challenges remain. The pressure on the current account is anticipated as import-driven consumption increases.”