The Pakistani Rupee faced significant pressure in the open market on Friday, with the British Pound Sterling nearing the alarming 380 mark, reflecting the continued weakness of the local currency against major international monetary units.
According to figures released by the Exchange Companies Association of Pakistan, the Pound Sterling was trading at a high of 374.83 for buying and 379.32 for selling. The Euro also demonstrated considerable strength, with its valuation pegged between 325.74 and 329.40.
The United States Dollar, a key indicator of economic stability, also showed a firm position. In the open market, the greenback was quoted at 281.70 for buying and 282.20 for selling.
A slight disparity was observed when compared to the interbank market, where the US Dollar’s value was slightly lower, recorded at 281.17 for buying and 281.37 for selling.
Meanwhile, currencies from Gulf nations remained steady. The United Arab Emirates Dirham was available for 76.80 (buying) and 77.52 (selling), while the Saudi Riyal was exchanged at 75.04 for buying and 75.63 for selling.
In the Asian market, the Japanese Yen was priced at 1.83 for buying and 1.89 for selling, rounding out a challenging day for Pakistan’s legal tender in the foreign exchange landscape.