The open currency market in Pakistan closed the week on a volatile note, as exchange rates saw significant fluctuations on Saturday.
The sharp movements in currency values came amid continued global economic uncertainty and rising domestic financial pressure, rattling traders and consumers alike.
The instability in exchange rates has become a key concern for importers, exporters, and everyday citizens, who find it increasingly difficult to plan financial decisions amid unpredictable currency shifts. As the demand for foreign currencies remains high, the rupee continues to face downward pressure.
According to market data, the US Dollar traded between Rs283.55 and Rs284.05, while the UK Pound Sterling hovered from Rs389.78 to Rs390.47. The Euro showed a narrow margin of change, moving between Rs331.92 and Rs332.51. Meanwhile, the Saudi Riyal and UAE Dirham were recorded at Rs75.61–75.74 and Rs77.74–77.88, respectively.
Other notable exchange rates included the Canadian Dollar, which ranged from Rs207.95 to Rs208.31, and the Australian Dollar, quoted between Rs185.84 and Rs186.17. The Chinese Yuan fluctuated from Rs39.56 to Rs39.63, while the Japanese Yen moved slightly from Rs1.96 to Rs1.97. The Singapore Dollar was seen at Rs222.56–222.96, and the Swiss Franc traded between Rs354.30 and Rs354.93.
Further exchange rate movements showed the Danish Krone between Rs44.49 and Rs44.56, the Swedish Korona at Rs29.96–30.01, the Hong Kong Dollar from Rs36.12 to Rs36.19, and the Thai Baht settling at Rs8.72–8.73.
Currency analysts stress that keeping track of exchange rates is now more crucial than ever. With Pakistan’s increasing integration into global trade and rising outbound travel and educational expenses, even minor fluctuations in exchange rates can have substantial financial implications.
Experts anticipate continued volatility in the exchange rates over the coming weeks. They recommend businesses, travelers, and investors regularly consult market sources for updated exchange rates to avoid adverse financial surprises.
Saturday’s turbulent market underscores how exchange rates are shaping key economic decisions in the country. As uncertainty looms, careful attention to exchange rates will be vital for navigating Pakistan’s economic challenges in the days ahead.