The Pakistani Rupee (PKR) weakened against most major currencies on Monday, despite closing almost unchanged against the US Dollar (USD) in the interbank market.
Throughout the day, the interbank rate hovered between 282 and 283 per dollar, before settling at 281.97—reflecting a marginal depreciation of 0.03 percent. In the open market, the rupee traded slightly higher, ranging from 283 to 284 per dollar.
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While the local currency showed little movement against the greenback, it recorded noticeable losses against other leading currencies.
The rupee dropped by Rs. 1.60 against the Euro, Rs. 2.52 against the British Pound (GBP), and Rs. 1.76 against the Canadian Dollar (CAD). It also declined slightly—by two paisas—against both the Saudi Riyal (SAR) and the UAE Dirham (AED).
In contrast, the rupee managed a rare gain against the Australian Dollar (AUD), appreciating by Rs. 1.73.
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On a fiscal year-to-date basis, the PKR has now shed 1.33 percent of its value against the US Dollar, reflecting ongoing challenges in maintaining exchange rate stability.
Analysts point to external debt obligations, import payments, and fluctuating foreign reserves as key factors influencing the rupee’s performance, warning that volatility may persist in the coming weeks.