The open currency market in Pakistan closed Tuesday with heightened volatility, as exchange rates experienced noticeable fluctuations.
The instability was largely attributed to ongoing domestic economic pressures and global financial uncertainties, which continue to exert downward pressure on the Pakistani rupee.
Traders and financial analysts observed that the instability in exchange rates is becoming a growing concern for a broad spectrum of stakeholders — including importers, exporters, business owners, and the general public.
The demand for foreign currencies has remained high, intensifying the rupee’s vulnerability in an already unpredictable trading environment.
On Tuesday, foreign exchange rates saw the US Dollar trading between Rs 283.60 and Rs 284.10. The UK Pound Sterling ranged from Rs 388.97 to Rs 389.65, while the Euro fluctuated between Rs 332.25 and Rs 332.83. The Saudi Riyal and UAE Dirham stood between Rs 75.62–75.75 and Rs 77.76–77.90, respectively. The Canadian Dollar was traded between Rs 207.37 and Rs 207.73, and the Australian Dollar between Rs 185.31 and Rs 185.63.
Other notable exchange rates included the Swiss Franc at Rs 354.87–355.50, Singapore Dollar at Rs 222.44–222.83, and Chinese Yuan at Rs 39.59–39.66. Meanwhile, the Japanese Yen remained stable at Rs 1.97, the Hong Kong Dollar was between Rs 36.13 and Rs 36.19, and the Thai Bhat traded in the Rs 8.71–8.73 range. The Danish Krone and Swedish Korona were also slightly fluctuating at Rs 44.53–44.61 and Rs 30.06–30.12, respectively.
Experts are emphasizing the growing need for constant monitoring of exchange rates. The rising costs of international trade, education, and travel have made even small shifts in exchange rates highly impactful. As global events increasingly influence local currency markets, financial planning becomes more challenging.
Market watchers warn that the coming weeks may bring continued instability in exchange rates, and advise both individuals and businesses to act prudently. Tuesday’s developments highlight how exchange rates are central to economic decision-making in Pakistan.
As market uncertainty persists, staying updated with daily exchange rates is vital for navigating future financial risks and opportunities.