Intraday trade: PKR remains largely stable against USD

KARACHI: The Pakistani rupee (PKR) remained largely stable against the US dollar (USD) in the early hours of trading on Wednesday. As of 10:10 am, the rupee was trading at Rs279.73, reflecting a minor loss of one paisa against the dollar.

On the international front, the US dollar hovered near a three-month low against major currencies following the latest round of US tariffs, coupled with retaliatory measures from Canada and China. This has heightened concerns about an escalating trade war.

Yearly overview

During the current fiscal year, the PKR has weakened by Rs1.43, or 0.51 per cent, against the US dollar. Since the start of the calendar year 2025, it has dropped by Rs1.22, or 0.44 per cent.

Previous close

In Tuesday’s interbank session, the PKR depreciated by 10.08 paisa, or 0.04 per cent, closing at Rs279.77 against the USD, compared to Monday’s close of Rs279.67.

Notably, the rupee reached a 52-week low of Rs279.76 today, marking a 0.80 per cent decline from its peak of Rs277.51 recorded on 4th October 2024.

Open market rates In the open market, exchange companies quoted the dollar at Rs279.00 for buying and Rs281.50 for selling.

PKR’s performance against other foreign currencies

Japanese Yen: The PKR depreciated by 1.67 paisa, or 0.90 per cent, closing at Rs1.8758 from Rs1.8591 the previous day.

Swiss Franc: The rupee fell by Rs2.25, or 0.72 per cent, to Rs312.64.

Euro: The PKR dropped by Rs2.62, or 0.90 per cent, closing at Rs293.49 compared to Rs290.87.

British Pound: The local currency weakened by Rs3.04, or 0.86 per cent, to settle at Rs355.21, down from Rs352.17.

UAE Dirham: The rupee decreased by 2.54 paisa, or 0.03 per cent, closing at Rs76.18.

Chinese Yuan: PKR depreciated by 1.75 paisa, or 0.05 per cent, closing at Rs38.42 from Rs38.40.

Saudi Riyal: The currency fell by 2.49 paisa, or 0.03 per cent, to Rs74.60.

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