The Pakistani Rupee (PKR) continued its decline against major currencies, including the US Dollar (USD) and British Pound (GBP), as market pressures intensified on Monday.
PKR vs US Dollar – Interbank & Open Market Trends
In the interbank market, the PKR hovered around Rs. 285 per USD for most of the trading session before closing slightly lower at Rs. 284.95. This marks a 0.03% depreciation, translating to a loss of 8 paisas compared to the previous close.
In the open market, the exchange rate remained volatile, ranging between Rs. 287 to Rs. 290 per USD, with some sellers in Islamabad quoting as high as Rs. 291 per dollar.
British Pound Soars Against Rupee
The British Pound (GBP) saw a significant surge, trading between Rs. 384 to Rs. 391 in the open market. According to the Exchange Companies Association of Pakistan (ECAP):
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Buying rate: Rs. 383
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Selling rate: Up to Rs. 391 in major cities
The rupee lost 24 paisas against the Pound in the interbank exchange, reflecting continued pressure on the local currency.
PKR’s Performance Against Other Major Currencies
The rupee struggled against most global currencies in the interbank session:
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UAE Dirham (AED): Down by 2 paisas
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Saudi Riyal (SAR): Down by 2 paisas
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Canadian Dollar (CAD): Down by 10 paisas
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Euro (EUR): Down by 11 paisas
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Australian Dollar (AUD): Slight gain of 12 paisas
Year-to-Date Overview
Since the start of the fiscal year, the Pakistani rupee has depreciated by 2.14% against the US Dollar, driven by economic uncertainties, rising import payments, and central bank interventions.
✅ Key Highlights
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PKR closes at Rs. 284.95/USD in interbank market
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Open market USD rate: Rs. 287–291
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GBP hits Rs. 391 in major cities
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PKR weakens against EUR, CAD, AED, and SAR
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Slight recovery against AUD
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Overall FYTD loss: 2.14% against USD
📈 Why It Matters
The ongoing depreciation of the rupee indicates mounting economic pressure and increased foreign exchange demand, especially amid import payments and currency hoarding in open markets. Continued monitoring of monetary policy, exchange reserves, and global trends is crucial for currency stability in the coming weeks.
