The Pakistani Rupee recorded a minor dip of 14 paisa in the interbank market, closing at Rs283.55 against the US Dollar, down from Rs283.41 a day earlier. Although a small change, it reflects growing pressure on the local currency amid external economic strains.
According to the Forex Association of Pakistan (FAP), the Dollar was being bought at Rs283.5 and sold at Rs285.6 in the open market, showing slightly wider margins and consistent market demand.
The Euro saw a significant decline of Rs1, dropping to Rs326.48 from the previous Rs327.48, as per data from the State Bank of Pakistan (SBP). This drop may indicate volatility in Eurozone-linked transactions.
Read more: Gold drops sharply in Pakistan – What’s behind the shift?
The British Pound saw a more dramatic fall, declining by Rs2.67 to close at Rs381.72, compared to Rs384.39 the previous day. This sharp movement could reflect changing investor sentiment or developments in UK markets.
Unlike other currencies, the Japanese Yen remained steady at Rs1.95, showing no change in value.
The Emirates Dirham rose by 03 paisa to close at Rs77.20, while the Saudi Riyal gained 04 paisa, ending at Rs75.57. These minor upticks hint at resilient Gulf currency demand amid trade flows.
While the Rupee’s slip was minor, the notable drop in the Pound and Euro signals shifts in international currency dynamics. The stability in the Yen and slight gains in Gulf currencies show Pakistan’s forex market is in flux, reacting to regional developments and global financial signals. For importers, exporters, and investors, these movements offer both caution and opportunity.
