The Pakistan rupee depreciated to a 19-month low against the US dollar, closing at 284.22 in the inter-bank market on Monday. It lost 25 paisa during the day. This marks the lowest level since December 2023.
Last week, the rupee ended at 283.97, showing a weekly decline of 0.09%. The continued fall reflects ongoing pressure on the local currency due to strong import demand and broader economic concerns.
Analysts warn that the rupee may weaken further. Some forecasts suggest it could fall beyond 290 during the fiscal year 2025–26. Rising imports and external financing needs are adding to the pressure.
In the open market, the rupee also showed weakness. It lost 9 paisa for buying and 24 paisa for selling. At the close, it stood at 285.50 and 286.64 against the US dollar. However, it showed gains against the euro, rising by 40 paisa for buying and 56 paisa for selling. It closed at 335.29 and 337.64.
There was no change in the exchange rate against the UAE dirham and Saudi riyal. The rupee ended at 77.68 and 78.10 against the dirham, and 75.98 and 76.40 against the riyal.
In the inter-bank market, the dollar was quoted at 284.22 on the bid side and 284.41 on the offer side. In the open market, it was available at 285.50 and 286.64.
Internationally, the US dollar remained stable. The US dollar index was at 96.967, slightly above last week’s 3.5-year low of 96.373. The global forex market was calm ahead of key announcements from US officials.
Former President Donald Trump is expected to announce new tariff rates affecting several countries. These tariffs are set to begin on August 1. US Treasury Secretary Scott Bessent said further details would come in the next few days.
Oil prices, which often affect currency trends, also showed mixed movement. Brent crude first dropped to $67.22 per barrel but later rose to $68.66. West Texas Intermediate ended at $66.99 after recovering from a session low of $65.40.
The fact that the Pakistan rupee depreciates to a 19-month low against the US dollar is a sign of deeper challenges. Investors, importers, and policymakers are closely watching the situation. If current trends continue, more pressure on the rupee is likely in the coming months.
This topic “Pakistan rupee depreciates to 19-month low against US dollar” is gaining attention across financial news due to its impact on inflation, trade, and overall economic confidence.
