Rupee Slips Slightly Against Dollar Amid Mixed Currency Movements

The Pakistani Rupee saw a modest decline against the US Dollar in the interbank market, closing at PKR 282.56 per dollar, marking a drop of 56 paisa or 0.20% compared to the previous day.

Market data showed that the local currency traded within a narrow range during the session, with the bid rate peaking at 282.7 and the ask rate falling to 285.3, suggesting some reversal of recent gains.

In the open market, the dollar was quoted at PKR 282.65 for buying and PKR 285.40 for selling, reflecting a similar trend.

The rupee’s performance against other major currencies remained mixed. It weakened by 84 paisa against the Euro to settle at PKR 352.99, stayed unchanged against the British Pound at PKR 377.30, and dropped by 38 paisa against the Swiss Franc to PKR 367.16. However, slight gains were recorded against the Japanese Yen, Saudi Riyal, and UAE Dirham.

Money market conditions were stable, with the 6-month KIBOR (Karachi Interbank Bid and Offer Rates) holding steady at 10.72% and 10.97%.

So far in 2025, the rupee has weakened by 2.61% against the dollar, while the fiscal year-to-date shows a minimal drop of 0.04%. Analysts view Friday’s dip as a possible pause in the rupee’s recent upward movement.