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Karachi\/Kuwait City \u2013 The Kuwaiti Dinar<\/strong> softened further today, closing at 908.70 Pakistani Rupee<\/strong>\u00a0in the open market. That\u2019s a noticeable dip from 911.32 PKR last week and extends the choppy decline we\u2019ve seen since the brief rebound to 919.69 PKR in late January. The rate remains far below the 2025 summer peak of 926.79 PKR, after those mid-year gains from 919.67 PKR (June 10) to 922.06 PKR (June 13) and 925.45 PKR (June 18).<\/p>\n Oil markets are still calling the shots, but the escalating Iran conflict has thrown in some wild cards. Brent crude jumped to around $78 per barrel<\/strong> this week amid the chaos\u2014up about 16% since the war kicked off last Saturday with U.S.-Israeli strikes on Iran and the assassination of Supreme Leader Khamenei. For Kuwait, an OPEC+ powerhouse churning out 2.7 million barrels daily, higher prices should theoretically help, but direct Iranian drone and missile attacks have hit hard: refineries shut down, a tanker leaking oil off Kuwait\u2019s coast, and explosions disrupting operations. The Strait of Hormuz blockage has halted shipping, shaking Kuwait\u2019s oil-dependent economy and adding volatility to the basket-pegged Dinar, despite reserves over $40 billion.<\/p>\n The Pakistani Rupee<\/strong> is weathering the storm better, thanks to solid reserves. Total liquid foreign reserves sit above $23 billion, State Bank holdings steady near $14.55 billion, and remittances\u2014projected over $36 billion this fiscal year\u2014keep flowing, bolstered by IMF tranches under the $7 billion program. But the Iran war looms large: surging oil prices threaten Pakistan\u2019s import bill, worsening the $26\u201327 billion trade deficit and fueling inflation (around 6.1% recently). Disruptions could hit remittances from the Gulf and spike energy costs, pressuring the PKR despite current stability.<\/p>\n Real-world impact<\/strong><\/p>\n Quick currency profiles<\/strong><\/p>\n\n
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