AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad: The Pakistani Rupee (PKR) plunged to historic lows against major international currencies on Monday, according to data released by the Exchange Companies Association of Pakistan. The greenback surged to a record high, trading between PKR 282.13 and PKR 282.80.
The British pound also climbed to unprecedented levels against the PKR, reaching a range of PKR 383.77 to PKR 387.59. The Euro followed a similar upward trajectory, fluctuating between PKR 331.41 and PKR 334.89.
The Japanese Yen likewise strengthened against the local currency, trading between PKR 1.89 and PKR 1.94. Regional currencies also gained ground, with the UAE Dirham rising to a range of PKR 77.29 to PKR 78.03, and the Saudi Riyal appreciating to between PKR 75.45 and PKR 76.01.
Interbank rates reflected similar weakening of the PKR, trading between 281.60 and 281.80. The continued decline of the Pakistani Rupee against major global and regional currencies raises concerns about inflationary pressures and the nation’s economic outlook.