Islamabad, The Pakistani Rupee weakened in the interbank market during the mark-to-market revaluation cycle, coming under pressure from the US Dollar, British Pound and key Gulf currencies. Forward rates indicate this downward trend could continue over the next month.
The US Dollar was quoted at a ready rate of 280.9024 against the Pakistani Rupee, with the one-month forward rate rising to 281.7009, signalling further dollar strength and additional strain on the rupee.
The British Pound showed notable firmness, trading at a ready rate of 368.8249 and a one-month forward rate of 369.9023, reinforcing a tougher outlook for the Pakistani Rupee against sterling.
Among Gulf currencies, the UAE Dirham stood at 76.4777 with a one-month forward of 76.7023, while the Saudi Riyal was quoted at 74.8973 and one month forward at 75.0402, both supporting pressure on the local currency in interbank valuations.
By contrast, the Pakistani Rupee showed signs of gaining ground against the Turkish Lira and the Russian Ruble. The Turkish Lira had a ready rate of 6.6786 and a one-month forward of 6.5383, while the Russian Ruble moved from a ready 3.4804 to a one-month forward of 3.4219, indicating relative easing versus those units.
This mixed performance highlights a complex trading environment for the Pakistani Rupee as it faces concentrated pressure from major global currencies while registering selective strength against some regional and emerging-market peers; importers, exporters and financial managers will be watching interbank and forward movements closely for mark-to-market and hedging decisions.
