PKR Depreciates by 0.05% Against USD in Interbank Market

KARACHI: The Pakistani Rupee (PKR) witnessed a slight depreciation of 0.05% against the US Dollar (USD) in the interbank market, as reported by the State Bank of Pakistan (SBP) on September 9, 2024.

The closing exchange rate was recorded at PKR 278.70 per USD, compared to PKR 278.57 on September 6, 2024.

This minor depreciation highlights the ongoing fluctuations in the currency market. The table below details the exchange rates:

The PKR’s movement indicates market dynamics, influenced by various economic factors. According to the SBP, the PKR appreciates when fewer rupees are required to purchase one USD, and it depreciates when more rupees are needed for the same.

This depreciation, though minimal, reflects the economic challenges and volatility faced by the Pakistani currency in the global financial landscape. The SBP continues to monitor the situation closely to ensure economic stability.

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