Karachi – Currency rates in Pakistan’s open market showed a slight upward trend in major foreign currencies, indicating renewed pressure on the rupee. The US dollar edged closer to the Rs 280 mark, trading at Rs 279.90 in selling, reflecting steady demand in the market.
The British pound saw a notable jump, crossing Rs 382 in the selling rate, making it one of the strongest-performing currencies of the day. Similarly, the euro climbed above Rs 332, signalling increased strength of European currencies against the rupee.
Gulf currencies, including the UAE dirham and Saudi riyal, also moved higher, which is significant for overseas Pakistanis sending remittances. The Omani riyal and Kuwaiti dinar remained at exceptionally high levels, highlighting their strong global standing.
Market experts say the rising trend is linked to import payments and external pressures, while cautioning that further fluctuations may occur depending on global economic conditions.
