Rupee remains flat

KARACHI: The rupee remained flat against the dollar in the interbank market on Wednesday due to matching demand and supply of dollars in the market.The rupee ended at 280.66 against the US dollar, largely unchanged from its close at 280.67 in the previous session.

In the open market, the rupee held steady. It finished at 281.7 per dollar, unchanged from the previous close.Analysts said the local unit could test the 280 per dollar level following the IMF’s approval of Pakistan’s next loan tranche expected next month, as exporters have eased their dollar selling while awaiting clarity on future developments.

Pakistan’s real effective exchange rate (REER) index appreciated to 104 in October, up from 101.7 in the previous month. According to analysts, an increasing REER shows that the home currency is becoming overvalued in comparison to peer nations.The country’s trade deficit widened 39 per cent to $12.7 billion in the four months of the fiscal year 2026 due to a surge in imports.