Most Pakistani importers are struggling to access foreign currency, with only 20–30 percent currently able to make dollar payments to clear their import orders, industry sources revealed on Thursday.

A persistent dollar shortage in the exchange market has pushed rates above the official interbank level, with importers now paying Rs. 285 per dollar, Rs. 2-3 higher than the State Bank of Pakistan’s official rate of Rs. 282. Only a handful of banks with significant export inflows are able to supply dollars, while the majority are reporting shortages and forcing importers to delay payments.

Despite the squeeze, the open market remains calm, with no signs of panic buying. Dealers say the only notable pressure is from seasonal Haj demand, and purchases above $1,000 now require extensive documentation.

Currency dealers suggest that the rupee’s gradual depreciation is a deliberate move to manage external liabilities, warning that a sharp devaluation could discourage exporters from bringing in their proceeds. While exporters are still converting their earnings, the widening rate gap could eventually lead to delays.

Remittances continue to provide crucial support for the rupee, with inflows expected to reach $38 billion in the current fiscal year and a target of $39 billion set for FY26.