Pakistan’s open currency market continued to show volatility on Saturday, reflecting the sharp fluctuations in exchange rates that began earlier in the week.
Amid ongoing global financial pressures and domestic economic challenges, the Pakistani rupee remains vulnerable, with analysts warning of further instability.
The persistent uncertainty in exchange rates is causing serious concern among importers, exporters, investors, and everyday consumers.
Financial analysts attribute the rupee’s weakness to rising inflation, dwindling reserves, and global market shifts, all contributing to sharp swings in exchange rates that directly impact foreign trade, investment decisions, and the cost of living.
On Saturday, the exchange rates for key foreign currencies against the Pakistani rupee were as follows:
The US Dollar was being traded between Rs. 283.75 and Rs. 284.25. The UK Pound Sterling stood at Rs. 387.75 to Rs. 388.44, while the Euro was exchanged between Rs. 334.11 and Rs. 334.70. The UAE Dirham ranged from Rs. 77.80 to Rs. 77.94, and the Saudi Riyal was at Rs. 75.66 to Rs. 75.80.
Other currencies showed similar trends. The Canadian Dollar ranged from Rs. 209.04 to Rs. 209.41, and the Australian Dollar from Rs. 186.46 to Rs. 186.79. The Swiss Franc stood at Rs. 357.56 to Rs. 358.19, and the Singapore Dollar between Rs. 222.69 and Rs. 223.08.
Asian currencies also reflected minor shifts: the Chinese Yuan was at Rs. 39.62 to Rs. 39.69, Japanese Yen between Rs. 1.96 and Rs. 1.97, Hong Kong Dollar at Rs. 36.15 to Rs. 36.21, Thai Baht from Rs. 8.76 to Rs. 8.77, Swedish Korona between Rs. 29.85 and Rs. 29.90, and Danish Krone at Rs. 44.78 to Rs. 44.86.
Experts stress that closely monitoring exchange rates has become essential. The current volatility is making it difficult to plan for foreign education, overseas travel, and international business, all of which are directly influenced by exchange rates.
With further fluctuations expected, financial advisors recommend individuals and companies track exchange rates regularly to safeguard their finances. As exchange rates remain unpredictable, staying informed is key to managing risks and exploring investment opportunities in today’s unstable market environment.