KARACHI: The Pakistani rupee extended its decline on Monday, falling to a 19-month low against the US dollar in the interbank market.
By day’s end, the rupee closed at 284.22, losing Re0.25.
Last week, the rupee had already shown weakness, ending at 283.97 — marking a 0.09% decline on a weekly basis. This is the first time the rupee has fallen to the 284 level since December 2023.
Analysts anticipate further depreciation in FY2025-26, projecting the rupee may slide beyond 290 due to growing import demand.
On the global front, the US dollar hovered near multi-year lows — its weakest since 2021 against the euro and lowest since 2015 versus the Swiss franc — as markets closely watch trade developments ahead of President Donald Trump’s tariff deadline.
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