The latest open market data reflects a gradual depreciation of the Pakistani rupee, as most major foreign currencies recorded gains. The US dollar maintained its upward trajectory, nearing Rs 280 in the selling range, indicating sustained demand in the foreign exchange market.
The British pound and euro exhibited significant strength, with the pound reaching Rs 382.75 and the euro climbing to Rs 332.96. This trend suggests continued resilience of European economies relative to emerging markets.
Currencies from the Gulf region — including the UAE dirham, Saudi riyal, and Qatari riyal — also appreciated, reinforcing their importance in Pakistan’s remittance-driven inflows. High-value currencies such as the Kuwaiti dinar and Bahraini dinar remained elevated, reflecting their strong peg structures and oil-backed economies.
Analysts note that the widening gap between buying and selling rates in several currencies points to market uncertainty and cautious trading behaviour. They emphasise the need for stable macroeconomic policies to manage external sector pressures effectively.
