Pakistan’s open currency market remained unstable on Friday, continuing a trend of volatility seen throughout the week, as exchange rates showed sharp fluctuations amid deepening economic uncertainty.
Following a turbulent session on Thursday, exchange rates continued to swing widely, raising concerns among importers, exporters, and financial institutions. Market analysts pointed to domestic fiscal pressures and persistent global economic challenges as the driving forces behind the rupee’s instability.
Currency dealers reported growing anxiety in the market, with businesses and individuals alike struggling to manage financial plans. The unpredictable movement of exchange rates has made international transactions, travel expenses, and foreign education costs more difficult to estimate, disrupting routine budgeting practices.
On Friday, the exchange rates of major global currencies against the Pakistani rupee were recorded as follows:
US Dollar: Rs283.65 to Rs284.15
UK Pound Sterling: Rs389.92 to Rs390.61
Euro: Rs334.74 to Rs335.33
Canadian Dollar: Rs207.85 to Rs208.21
Australian Dollar: Rs186.70 to Rs187.03
Other notable exchange rates included the Swiss Franc at Rs358.68 to Rs359.31, the Saudi Riyal between Rs75.64 and Rs75.77, and the UAE Dirham at Rs77.78 to Rs77.91. The Chinese Yuan was quoted at Rs39.59 to Rs39.66, while the Singapore Dollar ranged between Rs222.90 and Rs223.29.
The Swedish Korona hovered at Rs30.13 to Rs30.18, Danish Krone at Rs44.87 to Rs44.94, and the Hong Kong Dollar at Rs36.14 to Rs36.20. The Japanese Yen stayed at Rs1.98, and the Thai Baht traded between Rs8.75 and Rs8.76.
Experts stressed the importance of tracking exchange rates consistently, as minor shifts can heavily influence investment returns and cross-border payments. With exchange rates now central to both business strategy and household budgeting, financial planners recommend proactive monitoring.
As global markets face ongoing turmoil, exchange rates are expected to remain erratic, making them a critical aspect of Pakistan’s economic forecast going forward.