The Pakistani Rupee experienced notable pressure against major international currencies during Wednesday’s trading, with the US Dollar crossing the significant 281 threshold in the open market, according to figures released by the Exchange Companies Association of Pakistan (ECAP).
In the retail currency market, the American dollar was quoted with a buying rate of PKR 281.02 and a selling rate of PKR 281.50. These figures stand in contrast to the interbank closing rate, which was recorded at PKR 280.46. A reference rate associated with Zafar Paracha was cited at PKR 280.66.
The strain on the local currency was not confined to the greenback. The Euro demonstrated considerable strength, trading at PKR 326.50 for buying and PKR 329.26 for selling.
Similarly, the British Pound Sterling maintained a high valuation, with rates of PKR 371.45 and PKR 374.74 for buying and selling, respectively, reflecting broad-based gains for leading Western currencies.
Other key currencies also posted firm values. The Japanese Yen was available at PKR 1.78 (buying) and PKR 1.84 (selling).
Among prominent Middle Eastern currencies, the UAE Dirham was exchanged at PKR 76.56 (buying) and PKR 77.35 (selling), while the Saudi Riyal was priced at PKR 74.82 (buying) and PKR 75.48 (selling).