Pakistani Rupee Falls Against US Dollar Yet Again, Loses Big Against Euro

The Pakistani rupee (PKR) continued its losing streak as it depreciated against the US dollar (USD) once again on Wednesday. At close of the day, the PKR settled at 279.87 against the greenback, down Rs. 0.10 or 0.04 percent from its previous close of 279.77. On Tuesday, the PKR had also depreciated by Rs. 0.10 against the USD to close at Rs. 279.77. Internationally, the USD fell to a three-month low on concerns about the negative impact of US tariffs on the economy, with significant losses against the Euro. The price of the Euro increased by Rs. 4.85 to close at Rs. 298.34 against the last day’s closing of Rs. 293.49, according to the State Bank of Pakistan (SBP). The Japanese yen remained unchanged and closed at Rs. 1.87, whereas an increase of Rs. 3.49 was witnessed in the exchange rate of the British Pound, which was traded at Rs. 358.69 as compared to the last day’s closing of Rs. 355.20. The exchange rates of the Emirates Dirham and the Saudi Riyal increased by 03 and 02 paisa to close at Rs. 76.20 and Rs. 74.61 respectively.