Islamabad, July 2, 2025: The Pakistani Rupee (PKR) continued its downward trajectory for the third consecutive day, closing weaker against the US Dollar (USD) and British Pound (GBP) in both interbank and open market trading on Wednesday.
In the interbank market, the rupee depreciated by 19 paisas day-on-day, ending the session at 283.95 against the US Dollar, reflecting a 0.07% decline. The interbank rate hovered around 284 most of the day before slightly recovering by close. On a fiscal year-to-date (FYTD) basis, the PKR has now dropped 1.89% versus the greenback.
In the open market, the USD traded between 284 to 290, while the GBP to PKR rate remained volatile, ranging from 391 to 396. The Exchange Companies Association of Pakistan (ECAP) reported a GBP selling rate of 394, with several exchange counters quoting up to 396 in major cities.
The rupee also saw widespread losses against other major currencies. It slipped:
- 4 paisas against the UAE Dirham (AED)
- 5 paisas against the Saudi Riyal (SAR)
- 47 paisas against the Canadian Dollar (CAD)
- 90 paisas against the Australian Dollar (AUD)
- Rs. 1.81 against the Euro (EUR)
- 33 paisas against the British Pound (GBP)
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Market sentiment remains bearish as the rupee continues to come under pressure from external payment obligations and uncertain economic outlooks. Analysts expect volatility to persist amid low foreign inflows and rising demand for the dollar in the interbank and open markets.
