KARACHI: The Pakistani Rupee struggled in open market trading due to strong movements in foreign currencies.
According to the latest forex rates updated, the US Dollar retained its status as the preferred currency with a trading range of Rs. 279.80 for purchases and Rs. 281.30 for sales. The Euro exceeded the Rs. 290 level during the trading session as it reached Rs. 292.75.
The UK Pound Sterling showed strong performance with a selling rate of Rs. 347.
The UAE Dirham and Saudi Riyal currencies showed consistent rates at Rs. 74.80 and Rs. 76.55 during recent trading. The Australian Dollar and Canadian Dollar prices increased during trading to Rs. 177.00 and Rs. 196.50 for buyers.
Experts point to worldwide economic dynamics and Pakistan’s duties to pay for imports and debts as factors that weaken the Rupee’s strength.
Financial specialists urge traders to actively track their currency investments because the exchange rate market remains unpredictable. The higher need for foreign exchange due to future business transactions will test how stable the Rupee remains.