Islamabad, June 24, 2025: The Pakistani Rupee (PKR) showed a minor recovery against the US Dollar (USD) on Tuesday, ending its 9-day losing streak. However, the local currency faced significant losses against the British Pound (GBP) and other major global currencies.
In the interbank market, the USD to PKR exchange rate hovered around 284 for most of the day before closing at Rs. 283.76, marking a slight appreciation of 10 paisas or 0.04 percent on a day-on-day basis. This brings the rupee’s fiscal year-to-date depreciation to 1.83 percent against the dollar.
Meanwhile, the open market USD rate remained within the 284-287 range, with limited fluctuation. However, the spotlight remained on the rupee’s poor performance against the British Pound, which surged to Rs. 393 in the open market, highlighting a significant disparity in exchange values.
Rupee’s Performance Against Major Currencies
The GBP to PKR rate witnessed a steep increase, with the rupee losing Rs. 3.97 in interbank trade—a reflection of heightened demand for the British currency. The Euro (EUR) also saw gains against the PKR, rising by Rs. 2.55.
Other interbank movements included:
- Canadian Dollar (CAD): Up by 56 paisas
- Australian Dollar (AUD): Up by Rs. 2.17
- UAE Dirham (AED): PKR gained 2 paisas
- Saudi Riyal (SAR): PKR gained 2 paisas
Despite minor upticks against the AED and SAR, the Pakistani Rupee remained largely bearish, with negative sentiment driven by external debt payments, fluctuating oil prices, and tight dollar liquidity.
Market Outlook
Currency analysts suggest that while the PKR to USD stability offers a temporary breather, persistent pressures from import payments and declining foreign reserves may continue to weigh on the local currency. The rupee’s volatility against major currencies, especially the British Pound and Euro, could persist if external financial inflows remain inconsistent.
Read More: Massive Traffic Crackdown in Islamabad: 10,500+ Drivers Penalized in One Week
