Pakistani Rupee Weakens Against US Dollar for 4th Consecutive Day
The Pakistani Rupee (PKR) continued its downward trend against the US Dollar (USD) on Wednesday, marking its fourth straight day of losses in the interbank market. The local currency also reversed earlier gains against the British Pound (GBP) during today’s trading session.
📉 PKR Loses Ground Against USD
The interbank rate held steady at Rs. 285/$ for most of the day but eventually settled at Rs. 284.46, reflecting a day-on-day depreciation of 0.04% (a loss of 10 paisas). In the open market, dollar rates fluctuated between Rs. 285 and Rs. 289, with a few counters in Islamabad quoting as high as Rs. 290/$.
💷 GBP Gains in Open Market
The British Pound traded between Rs. 387 and Rs. 393 across major cities. According to the Exchange Companies Association of Pakistan (ECAP), the official selling rate was Rs. 387, while many currency dealers in metropolitan areas sold it at higher rates reaching Rs. 393.
📊 Mixed Performance Against Other Currencies
Despite its weakness against the USD and GBP, the PKR posted gains against several other major currencies:
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🇦🇺 Australian Dollar (AUD): Gained Rs. 0.40
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🇨🇦 Canadian Dollar (CAD): Gained Rs. 0.62
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🇪🇺 Euro (EUR): Gained Rs. 1.18
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🇬🇧 British Pound (GBP): Gained Rs. 1.09 in interbank
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🇸🇦 Saudi Riyal (SAR): Lost Rs. 0.02
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🇦🇪 UAE Dirham (AED): Lost Rs. 0.02
📅 FYTD Snapshot
So far in FY2024–25, the PKR has declined by 2.04% against the US Dollar, reflecting ongoing volatility in the foreign exchange market.
