While the change may seem minor, it continues a trend that reflects broader uncertainties in the currency market. In the open market, the dollar was being bought at Rs 285.50 and sold at Rs 286.65, according to the Forex Association of Pakistan (FAP).
The Rupee wasn’t alone in its struggle. The Euro also lost ground, depreciating by Rs 1.57 and settling at Rs 333.81, down from Rs 335.38, as per figures released by the State Bank of Pakistan (SBP).
The Japanese yen dropped slightly by 01 paisa, now trading at Rs 1.95 compared to Rs 1.96 a day earlier. Meanwhile, the British Pound recorded a more notable decline of Rs 1.36, closing at Rs 386.65 against the earlier Rs 388.01.
Interestingly, while major currencies slipped, two Gulf currencies gained value. The Emirates Dirham rose by 06 paisa to settle at Rs 77.37, and the Saudi Riyal increased by 07 paisa to Rs 75.78.
Read more: PSX surges as over Rs45 billion traded - What’s fueling the bullish frenzy?
The Rupee’s minor depreciation, though not alarming on its own, hints at continued economic adjustments amid global financial volatility. Rising open market rates compared to interbank values indicate ongoing demand for the dollar, possibly linked to import payments or travel needs. The gain in Gulf currencies may reflect remittance flows, while the fall in the Pound and Euro aligns with international market shifts. The question remains: will this be the start of a deeper slide or just a passing fluctuation?
