The British pound sterling surged past the 374 mark against the local currency in open market transactions on Tuesday, headlining a day of significant pressure on the rupee from major international currencies, according to figures released by the Exchange Companies Association of Pakistan (ECAP).
Data from the association indicated the pound was being bought at PKR 370.77 and sold at PKR 374.00. The euro also demonstrated notable strength, with a buying rate recorded at PKR 325.70 and a selling price reaching PKR 328.62.
In the pivotal US dollar trade, the greenback was quoted with an open market buying price of PKR 281.07 and a selling price of PKR 281.50. This represented a discernible premium over the interbank closing figure of PKR 280.47 for the American currency.
Other prominent international currencies also saw movement, with the Japanese yen trading in a band between PKR 1.78 and PKR 1.84.
Concurrently, currencies from the Gulf region remained firm, as the UAE dirham was exchanged between PKR 76.60 and PKR 77.41, while the Saudi riyal was priced from PKR 74.85 to PKR 75.50. The association’s data also included a reference rate from Zafar Paracha for the US dollar at PKR 280.67.