Dirham Surges to 79.50 PKR Amid Market Divergence – July 17, 2025
On July 17, 2025, the UAE dirham strengthened significantly in Pakistan’s open market, reaching 79.50 PKR—a notable rise from the interbank level of approximately 77.58 PKR. Analysts attribute the gap to currency demand differences and inflow patterns, cautioning on future volatility.
The interbank rate for AED/PKR stands near 77.58, marking minor gains over the past week and holding steady within a narrow band. In contrast, the open-market cash rate surged to about 79.50 PKR today, up from 79.20 PKR yesterday, indicating heightened demand from remittance channels and informal forex operations.
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Economists note that while the interbank rate reflects formal trade and institutional flows, the higher open-market rate underscores strong retail demand—especially from expatriates sending money home. An FX market strategist commented that the dirham’s rally in open-market trading signals short-term liquidity pressures rather than a sustained structural shift. With ongoing remittance inflows and government interventions, the gap may moderate in the coming days.
• The dirham is expected to remain firm if remittances stay robust and importers continue converting funds.
• Interbank rates may modestly rise if the central bank sells AED to stabilize the rupee.
• A narrowing between interbank and open-market rates indicates easing liquidity pressure; continued divergence may lead to central bank action.
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