KARACHI: The United States Dollar rate decreased by 10 paisa against Pakistani rupee
According to the currency market dealer, the rate of dollar down by 10 paisa against Pakistani rupee and traded Rs.284.87 in the Interbank, while in the open market, exchange companies quoted the US dollar at PKR 284.90 for buying and PKR 287.10 for selling.
Against other major currencies the PKR showed varied movements. It weakened by 77.5 paisa or 0.23% against the Euro (EUR) to 342.52, appreciated by 55 paisa or 0.14% against the British pound (GBP) to 380.35.
The marginal strengthening of the PKR against the USD provides a small relief for Pakistan’s economy and its people. Lower import costs for essentials like fuel and food could help curb inflation, slightly enhancing household purchasing power. Businesses may see reduced expenses, potentially stabilizing prices. Remittances retain a bit more value, benefiting families dependent on overseas income. However, the government’s debt servicing remains a challenge, though a stable PKR offers a brief fiscal advantage. This update supports informed decision-making amid economic fluctuations.
