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KARACHI: The first half of the current fiscal year saw the rupee post a net gain against the US dollar of Rs5.066, or 1.8 per cent, although it remains weaker than its level at the beginning of 2025.

The dollar closed at Rs280.13 in the interbank market on Friday compared to Rs285.22 on July 2, 2025. However, the rupee is still below its level on Jan 3, 2025, when the dollar traded at Rs278.56.

Currency market participants said the exchange rate remained “managed” but noted that the recent appreciation had helped stabilise the market and provided greater confidence for exporters and importers.

In a report issued on Saturday, Tresmark CEO Faisal Mamsa said the rupee’s behaviour often defies traditional valuation models........

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