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The Pakistani Rupee (PKR) posted modest gains against the US Dollar (USD) and British Pound (GBP) on Thursday, breaking a three-day losing streak. According to data from the interbank market, the rupee appreciated by nine paisas to settle at 283.86 per dollar, marking a 0.03% day-on-day (DoD) gain.
Most of the trading day saw the rupee hovering around the 284 mark before finally closing stronger by market close.
Open Market Currency Rates Hold Steady
In the open market, the rupee traded between 284–289 per dollar, reflecting stability across currency counters.
The GBP remained volatile, trading between Rs. 391–396. According to the Exchange Companies Association of Pakistan (ECAP), the official selling rate stood at Rs. 394, though many exchange outlets in major cities quoted rates as high as Rs. 396.
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Rupee Posts FYTD Loss Despite Daily Gains
While today’s gain was a positive signal, the rupee remains under pressure on a longer timeline. On a fiscal year-to-date (FYTD) basis, the PKR has depreciated by 1.86% against the US Dollar.
PKR Performance Against Other Major Currencies
In the interbank market, the rupee had mixed results:
- Gained 2 paisas against the UAE Dirham (AED)
- Gained 2 paisas against the Saudi Riyal (SAR)
- Lost 86 paisas against the Canadian Dollar (CAD)
- Lost 38 paisas against the Australian Dollar (AUD)
- Lost 68 paisas against the Euro (EUR)
- Gained Rs. 1.1 against the British Pound (GBP)
Currency Market Outlook
Traders and analysts remain cautiously optimistic, citing seasonal inflows, export proceeds, and remittances as factors supporting the rupee. However, macroeconomic challenges, external debt payments, and forex reserve pressures may continue to limit sharp gains.
