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Following India’s early morning missile strike on Pakistan, the Indian and Pakistani rupees remained steady against the UAE dirham and U.S. dollar—defying fears of immediate market panic.
As of Wednesday morning:
INR stood at 23.3 against the UAE dirham and 84.5 to the USD.
PKR traded at 76.5 against the dirham and 281 to the dollar.
The attacks led to airspace closures, civilian casualties, and canceled flights. Despite the military escalation, currency markets remained largely stable—though experts warn that prolonged conflict could harm Pakistan’s economy, including its access to foreign funding and IMF recovery plans. Moody’s has flagged the risk of further strain on Pakistan’s already limited reserves if the situation escalates.
