April 7, 2025 – The Pakistani Rupee (PKR) has reached a significant low today, trading at PKR 280.57 per US Dollar, marking a 52-week low. The local currency depreciated by 10.29 paisa, or 0.04%, compared to its previous closing rate of PKR 280.47. This drop is part of the ongoing fluctuations observed in the interbank currency market, where the PKR continues to face challenges against major foreign currencies.
Throughout the day, the Pakistani Rupee saw a narrow trading range with an intraday high (bid) of PKR 280.65 and a low (ask) of PKR 280.55. In the open market, exchange companies reported the US Dollar at a buying price of PKR 280.00 and a selling price of PKR 282.00, reflecting the continued pressure on the local currency.
The performance of the PKR against other major global currencies also demonstrated mixed results. Against the Euro (EUR), the PKR lost 87.07 paisa, or 0.28%, bringing the closing rate to PKR 309.21, compared to the previous value of PKR 308.34. The depreciation of the rupee against the Euro is consistent with the broader trend of currency fluctuations seen in the foreign exchange market.
However, the PKR showed some strength against the British Pound (GBP), appreciating by 2.43 rupees, or 0.67%, to close at PKR 362.27, up from the previous day’s rate of PKR 364.70. This increase is notable as it marks a positive movement for the rupee in an otherwise challenging currency market.
The local currency, however, weakened against the Swiss Franc (CHF), falling 3.22 rupees, or 0.98%, to close at PKR 331.09. Similarly, against the Japanese Yen (JPY), the PKR slipped by 0.88 paisa, or 0.46%, closing the session at PKR 1.9241 compared to the previous day’s rate of PKR 1.9153.
On a more positive note, the PKR saw a slight appreciation against the Chinese Yuan (CNY), increasing by 13.95 paisa, or 0.36%, to close at PKR 38.38, up from PKR 38.51. The rupee also edged higher against the Saudi Riyal (SAR) by 1.24 paisa, or 0.02%, to settle at PKR 74.74. However, the PKR experienced a minor decline of 2.90 paisa, or 0.04%, against the UAE Dirham (AED), closing at PKR 76.39.
The PKR has shown a year-to-date (CYTD) depreciation of 0.72% against the US Dollar, with a fiscal-year-to-date (FYTD) decline of 0.79%. Over the course of the current fiscal year, the rupee has lost a total of 2.23 rupees, or 0.79%, against the USD. These losses indicate continued pressure on Pakistan’s domestic currency, with external factors such as global trade dynamics and local economic challenges contributing to the ongoing volatility.
In the money markets, the benchmark 6-month Karachi Interbank Bid and Offer (KIBOR) rates saw a slight decline, with the bid rate dipping by 1 basis point to 11.86%, and the offer rate falling to 12.11%. These small changes reflect minor adjustments within the interbank lending rates amidst the fluctuations in the foreign exchange market.
Looking at the 52-week performance of the Pakistani Rupee, the US Dollar (USD) remains within a trading band of PKR 277.52 to PKR 280.57. This represents a 1.09% decrease from the highest point seen in the past year, recorded on October 4, 2024. Conversely, against the Euro, the rupee has experienced a significant decline of nearly 7.94% from its highest value in the past year.
These ongoing fluctuations highlight the volatile nature of the PKR as it continues to be influenced by a variety of global and domestic factors, including inflation rates, international trade, and the overall economic health of Pakistan. As the fiscal year progresses, market participants, businesses, and policymakers will continue to monitor the performance of the local currency closely.
For businesses, investors, and individuals involved in foreign trade, these fluctuations in exchange rates have practical implications, especially for those dealing with imports, exports, and remittances. Understanding these trends can help stakeholders make better-informed financial decisions as they navigate the complex dynamics of Pakistan’s foreign exchange market.