Overview
- Pakistan’s interbank rate closed at Rs279.62 per US dollar on Feb. 13, a Re0.03 gain, according to the State Bank of Pakistan.
- State Bank officials said the economy is outperforming IMF expectations, which lifted market sentiment.
- Rising remittances plus reported crackdowns on hawala networks and smuggling supported the rupee’s stability.
- India’s rupee ended at 90.66 per US dollar after a narrow session, weighed by a firmer greenback, weak equities, and foreign investor outflows of Rs 7,395.41 crore.
- India introduced a re-based CPI series showing January retail inflation at 2.75%, a shift that informs expectations for RBI policy.