The Pakistani Rupee (PKR) experienced a decline of six paisas against the US Dollar (USD) in early trading on Monday within the Interbank Foreign Exchange Market. The exchange rate now stands at Rs138.91 for one US Dollar.
On the preceding Friday, January 11, 2019, the Rupee closed at Rs138.85 to the US Dollar.
Dealers in the foreign exchange market have attributed this depreciation of the Rupee to the high demand for the US Dollar. This increased demand is primarily a result of import payments and corporate transactions that necessitate the use of the US Dollar.
The fluctuation in currency exchange rates, particularly between the PKR and the USD, is closely monitored by financial institutions, businesses, and individuals in Pakistan. Changes in exchange rates can have an impact on the cost of imports, the profitability of exports, and the overall economic outlook.
Market participants are advised to stay informed about exchange rate movements, as they can influence various economic sectors and investment decisions. The exchange rate between the Pakistani Rupee and the US Dollar is subject to fluctuations due to a variety of factors, including supply and demand dynamics, market sentiment, and macroeconomic developments both within Pakistan and internationally.
Rupee Declines Against Dollar for Fourth Consecutive Session, Ending at PKR 280.09
