KARACHI: Rupee depreciated further against the US dollar in the inter-bank market as it lost Re0.41 or 0.15% during the previous week.
The local unit closed at 284.87, against 284.46 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
In a key development, Pakistan’s current account (C/A) posted a massive surplus of $2.1 billion during the fiscal year (FY) 2024-25, a sharp contrast against $2.07 billion deficit recorded in the FY24, SBP data showed.
Pakistan currency hit 21-month low at the international matrix of real effective exchange rate (REER) index, depreciating 1.22% to 96.61 points in June 2025, compared to the prior month of May.
Meanwhile, foreign exchange reserves held by the SBP increased by $23 million on a weekly basis, clocking in at $14.53 billion as of July 11, data released during the previous week showed. The country’s total liquid foreign reserves stood at $19.96 billion. Net foreign reserves held by commercial banks stood at $5.43 billion.
Open-market rates
In the open market, the PKR lost 1.02 rupee for buying and 1.10 rupee for selling against USD, closing at 287.37 and 288.60, respectively.
Against Euro, the PKR gained 76 paise for buying and 38 paise for selling, closing at 334.92 and 338.27, respectively.
Against UAE Dirham, the PKR lost 31 paise for both buying and selling, closing at 78.52 and 79.22, respectively. Against Saudi Riyal, the PKR lost 38 paise for buying and 37 paise for selling, closing at 76.81 and 77.35, respectively.
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Weekly inter-bank market rates for dollar
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Bid Close Rs. 284.87
Offer Close Rs. 285.06
Bid Open Rs. 284.46
Offer Open Rs. 284.65
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Weekly open-market rates for dollar
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Bid Close Rs. 287.37
Offer Close Rs. 288.00
Bid Open Rs. 286.35
Offer Open Rs. 287.50
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Copyright Business Recorder, 2025
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