PKR weakens slightly against USD in early interbank trade 

KARACHI: The Pakistani rupee saw a minor dip against the US dollar during early trading hours in the interbank market on Monday, falling by 0.02 per cent. 

By 10:15am, the local currency was trading at 284.52 against the greenback, down by 6 paisa from the previous close. 

So far in the current fiscal year, the rupee has declined by 69.49 paisa or 0.24 per cent against the US dollar. Since the beginning of 2025, it has weakened by Rs5.91 or 2.08 per cent. 

Last week, the rupee also posted losses in the interbank market, dropping by 49 paisa or 0.17 per cent. The currency closed Friday’s session at 284.46, compared to 283.97 a week earlier, according to data from the State Bank of Pakistan (SBP). 

Meanwhile, global currency markets also experienced shifts. The euro slipped to a three-week low early on Monday, and the Mexican peso came under pressure following a threat from US President Donald Trump to impose a 30 per cent tariff on imports from the European Union and Mexico starting August 1. 

Performance in previous session 

On Friday, the rupee had posted a modest gain of 10.34 paisa or 0.04 per cent to close at 284.46 per US dollar, compared to the previous day’s close of 284.56. Throughout the day, the currency recorded an intraday high of 284.60 and a low of 284.45. 

In the open market, exchange companies were quoting the dollar at Rs285.50 for buying and Rs287.00 for selling. 

Against other major currencies on Friday, the rupee showed mixed performance: 

PKR gained Rs2.33 or 0.60 per cent against the British pound to settle at 384.97, up from 387.30. 

It appreciated Rs1.49 or 0.45 per cent against the euro, closing at 332.39 from 333.88. 

The local unit also gained 2.81 paisa or 0.04 per cent against the UAE dirham, closing at 77.45. 

The rupee rose Rs1.34 or 0.37 per cent versus the Swiss franc to close at 356.94. 

However, the rupee slipped 1.80 paisa or 0.05 per cent against the Chinese yuan, ending at 39.67 from 39.65. 

PKR strengthened slightly against the Japanese yen by 0.84 paisa or 0.43 per cent, finishing at 1.9365 from 1.9449. 

It edged up 2.35 paisa or 0.03 per cent against the Saudi riyal to close at 75.85. 

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