The Pakistani rupee closed at 276.97 against the US dollar in the interbank market on Monday, gaining three paisas on the day. The close took the currency below the 277 level for the first time in almost three years. The rupee was last seen at this level in October 2023.
Monday’s close continued a long, slow run of gains. The currency has now closed in positive territory for a 259th consecutive session, according to market data compiled by ProPakistani, and it has reported steady gains against the dollar since December 25, 2025. The moves are small each day, but the direction has not changed.
Pakistani rupee: the week’s interbank rates
The State Bank’s published rates show how gradual the climb has been. The dollar rate moved from 277.0214 on October 7 to 276.9736 on October 12, a total gain of about five paisas across four sessions. Friday’s close, reported separately, was 277.00, so Monday’s session was the one that finally carried the rate into the 276 range.
| Currency | Rate on Oct 9 (Rs) | Rate on Oct 12 (Rs) | Change (paisas) |
|---|---|---|---|
| US dollar | 277.0040 | 276.9736 | +3 |
| Euro | 310.9509 | 310.0166 | +93 |
| British pound | 366.8503 | 366.6439 | +21 |
| Australian dollar | 193.3073 | 193.0783 | +23 |
| Canadian dollar | 194.7510 | 194.1835 | +57 |
| UAE dirham | 75.4153 | 75.4070 | +1 |
| Saudi riyal | 73.7871 | 73.7475 | +4 |
The rupee also gained against most other major currencies on Monday. It rose 93 paisas against the euro, 57 paisas against the Canadian dollar, 23 paisas against the Australian dollar and 20 paisas against the British pound. Because the dirham and the riyal are pegged to the dollar, the gains there were limited to one paisa and four paisas.
What is supporting the currency
A steadier supply of dollars is the main support. Workers’ remittances reached $3.59 billion in September, up 12.7 per cent on the same month last year, according to State Bank data. Inflows through Roshan Digital Accounts crossed $14 billion by the end of September, adding $251 million in that month alone.
The wider external picture has also steadied. Remittances rose 14 per cent to $10.9 billion in the July to September quarter, and Finance Minister Muhammad Aurangzeb has said the economy should grow by more than 4 per cent this year, with over $1bn expected from privatisation. Each of those flows reduces the pressure that pushed the rupee to record lows in earlier years.
The stock market tells a more cautious story, after the exchange gave up early gains despite an IMF agreement. Currency traders, though, are pricing the flows rather than the headlines, and the flows have stayed consistent for months.
For households, a firmer rupee works slowly. It holds down the local price of imported fuel, edible oil and machinery, and it makes each dollar sent home convert into slightly fewer rupees than a weaker rate would. Exporters face the opposite pressure, since a stronger currency trims the rupee value of their earnings. The three-year high is therefore a sign of stability rather than a gain for every side of the economy. (Sources: ProPakistani, State Bank of Pakistan rates, Mettis Global)
Frequently asked questions
What was the dollar rate in Pakistan on October 12, 2026?
The US dollar closed at Rs276.97 in the interbank market on Monday, October 12, 2026. The rupee gained three paisas on the day, and the close was its strongest in almost three years.
When was the rupee last at 276 against the dollar?
The rupee was last at the 276 level in October 2023. Market tables show the dollar at Rs276.9 on October 16, 2023, and Rs276.83 on October 17, 2023, before it moved back above 277.
Why has the Pakistani rupee been gaining?
Steady dollar inflows are the main support. Remittances reached $3.59 billion in September, Roshan Digital Account inflows crossed $14 billion by the end of September, and the currency has closed in positive territory for 259 consecutive sessions.
