Pakistani Rupee
The Pakistani rupee (PKR) continued its gradual decline against the US dollar, closing at PKR 280.73 in the interbank market on Tuesday, April 8, 2025.
This marks a depreciation of 15.62 paisa or 0.06% compared to the previous day’s closing rate of PKR 280.57, and represents the lowest level recorded for the currency over the past 52 weeks.
During the trading session, the rupee fluctuated slightly, registering an intraday high bid of 280.70 and a low ask of 280.60. Meanwhile, in the open market, exchange companies were quoting the dollar at PKR 280.00 for buying and PKR 282.00 for selling.
Despite the drop against the US dollar, the rupee showed strength against several other major global currencies. It appreciated by PKR 2.38 or 0.77% against the Euro, closing at PKR 306.83 from the previous value of PKR 309.21.
Against the British Pound, the rupee posted an impressive gain of PKR 4.32 or 1.19%, closing at PKR 357.95. Similarly, it gained PKR 4.40 or 1.33% against the Swiss franc, reaching PKR 326.69.
The local unit also strengthened against the Japanese yen by 1.89 paisa or 0.98%, closing at 1.9052. A modest appreciation of 10.87 paisa or 0.28% was also recorded against the Chinese yuan, with the closing rate settling at PKR 38.27.
However, PKR showed slight weakness against the Saudi riyal and the UAE dirham. It depreciated by 4.16 paisa or 0.06% to close at PKR 74.78 against the riyal and by 4.15 paisa or 0.05% to close at PKR 76.43 against the dirham.
From a broader perspective, the rupee has depreciated by PKR 2.38 or 0.85% against the US dollar since the start of the current fiscal year. On a calendar year-to-date basis, it has lost PKR 2.18 or 0.77%.
Meanwhile, money market activity remained stable with the benchmark 6-month Karachi Interbank Bid and Offer Rates (KIBOR) holding steady at 11.86% and 12.11%, respectively.
Despite efforts to stabilize the economy, the rupee’s weakening trend—particularly against the dollar—raises concerns about future inflationary pressures and import costs. However, the currency’s recovery against several global currencies may offer some relief in the broader economic context.
