PKR Gains Slightly Against USD, Slips Against GBP and Other Majors
The Pakistani Rupee (PKR) closed the week with marginal gains against the US Dollar (USD) but recorded notable losses against the British Pound (GBP) and several other foreign currencies in both interbank and open markets on Friday.
💵 PKR vs USD — Marginal Recovery
In the interbank market, the rupee appreciated by 0.03% — gaining 9 paisas — to close at Rs. 284.86 against the dollar. The rate hovered around 285/$ most of the day before settling slightly lower.
Meanwhile, in the open market, rates remained steady between Rs. 286 and Rs. 289/$, with some sellers in Islamabad quoting as high as Rs. 289.
On a fiscal year-to-date (FYTD) basis, the PKR has depreciated by 2.11% against the greenback.
💷 PKR vs GBP — Pressure Persists
The British Pound continued to strengthen against the rupee, with open market buying and selling rates climbing to:
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Buying: Rs. 387
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Selling: Rs. 390–391
This comes amid strong global demand for the GBP and limited local availability, further straining exchange rates.
💱 PKR Performance Against Other Major Currencies
In today’s interbank session, the rupee saw mixed performance:
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🇦🇪 UAE Dirham (AED): Gained 2 paisas
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🇸🇦 Saudi Riyal (SAR): Gained 2 paisas
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🇨🇦 Canadian Dollar (CAD): Lost 20 paisas
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🇦🇺 Australian Dollar (AUD): Lost Rs. 1.37
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🇪🇺 Euro (EUR): Lost Rs. 1.21
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🇬🇧 British Pound (GBP): Lost Rs. 1.40
📉 What’s Driving the Market?
Fluctuations in the PKR are largely influenced by:
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Global currency trends
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Foreign exchange reserves
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Import/export activity
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Monetary policy shifts
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Geopolitical and investor sentiment
Analysts note that while the rupee remains under pressure due to international obligations and import bills, the local currency has shown resilience through cautious monetary policy and remittance inflows.
