Pakistani Rupee Weakens Against USD

In Islamabad, the Pakistani Rupee lost its strength against the US dollar on Monday. It dropped by 29 paisa in interbank trading, closing at Rs 278.22 compared to the previous day’s Rs277.93. The Forex Association of Pakistan reported that in the open market, the dollar’s buying rate was Rs278, while the selling rate was Rs 280.7.

Other currencies also saw changes. The Japanese Yen decreased by 02 paisa, closing at Rs1.80. Meanwhile, the British Pound’s exchange rate fell by Rs4.51, closing at Rs 347.18 compared to the previous Rs 351.69. On the other hand, the Emirates Dirham and the Saudi Riyal both increased by 05 paisa, closing at Rs 75.73 and Rs 74.14 respectively.

The previous day, Pakistan repaid billions in Eurobonds as part of a scheduled payment before seeking a long-term bailout from the International Monetary Fund (IMF). These bonds, issued in 2014, matured this month. The State Bank of Pakistan clarified that the payment was made to the agent bank for distribution to the bondholders.


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Pakistan has been facing challenges including a balance of payments crisis, high inflation, and significant currency devaluation since securing an IMF standby arrangement to avoid a sovereign default. The recent depreciation of the Pakistani Rupee against the US dollar highlights the ongoing challenges facing Pakistan’s economy.

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As fluctuations in exchange rates continue to impact financial markets, it’s essential to stay informed about currency trends and their broader economic implications. By monitoring developments closely, individuals and businesses can better navigate the evolving landscape of international finance.