PKR Mixed Against Major Currencies: Slight Drop vs USD, Gains vs GBP and Others
KARACHI – The Pakistani Rupee (PKR) showed a mixed trend in currency markets on Thursday, posting a second consecutive daily loss against the US Dollar (USD), while gaining ground against several other major currencies, including the British Pound (GBP).
USD to PKR: Modest Decline
In interbank trading, the rupee remained mostly stable throughout the day, hovering around Rs. 285/USD before settling at Rs. 284.96 by market close.
In the open market, the exchange rate varied between Rs. 287 and Rs. 290, with some currency counters in Islamabad quoting the dollar as high as Rs. 290/USD.
Despite today’s marginal decline, the rupee has depreciated by 2.14% against the US Dollar in the current fiscal year to date (FYTD).
GBP to PKR: Pound Loses Ground
The British Pound weakened in the open market, with the buying rate at Rs. 385 and selling as high as Rs. 389, according to the Exchange Companies Association of Pakistan (ECAP). This marks a positive movement for the PKR against the GBP compared to earlier sessions.
Other Major Currencies
In interbank trading, the rupee strengthened against several other key global currencies:
-
Canadian Dollar (CAD): Gained 45 paisas
-
Australian Dollar (AUD): Gained Rs. 1.72
-
Euro (EUR): Gained 78 paisas
-
British Pound (GBP): Gained 38 paisas
-
UAE Dirham (AED): Remained stable
-
Saudi Riyal (SAR): Remained stable
Outlook
Market analysts suggest that fluctuations in global currency trends, import demand, and remittance flows continue to shape PKR’s short-term trajectory. As fiscal and trade dynamics evolve, the rupee’s performance is expected to remain volatile in the coming weeks.
