The Pakistani rupee on Wednesday declined by 23 paisa against the US dollar. The USD sold at Rs284.90 against the US dollar in interbank, 24NewsHD TV channel reported.
On Tuesday, the US dollar closed at Rs284.67 against the Pakistan rupee.
The foreign currency exchange rates in Pakistan witnessed modest fluctuations on Wednesday, July 16, 2025, as the local market opened trading amid cautious sentiment driven by global economic cues and regional volatility.
The exchange rates are based on the open market transactions at the start of the trading day, reflecting ongoing demand and supply conditions for each foreign currency.
As Pakistan continues to rely heavily on foreign trade and remittances, any movement in foreign currency rates directly affects inflation, import costs, and investor confidence.
Among the Gulf currencies, the UAE Dirham (AED) traded at Rs78.3 for buying and Rs79.2 for selling, while the Saudi Riyal (SAR) remained strong at Rs76.6 for buying and Rs77.4 for selling.
Both currencies are vital to Pakistan’s foreign currency reserves due to the high volume of remittances sent by overseas workers from the Middle East.
The Euro (EUR), another prominent foreign currency, was quoted at Rs336 for buying and Rs339.5 for selling.
The UK Pound Sterling (GBP) showed further strength, trading between Rs387 and Rs392. These movements highlight the impact of foreign currency fluctuations on trade with European markets.
Reporter: Ahsan Abbasi