US Dollar to Pakistani Rupee Exchange Rate Falls Slightly
The Pakistani Rupee (PKR) gained marginally against the US Dollar (USD) today, appreciating by 0.06% in the interbank market to close at Rs. 283.70 per USD. This slight recovery comes after a week of minor fluctuations, offering a brief respite amid global economic pressures. Below are the latest rates and a comparison of the past seven days.
Current USD to PKR Exchange Rate
| Currency Pair | Interbank Rate (June 23, 2025) | Open Market Buying Rate | Open Market Selling Rate |
|---|---|---|---|
| USD/PKR | Rs. 283.70 | Rs. 283.90 | Rs. 285.30 |
Last 7 Days: USD to PKR Rate Comparison
The table below shows the interbank closing rates for USD/PKR over the past week, with daily changes:
| Date | Interbank Closing Rate (Rs.) | Change (Rs.) | Change (%) |
|---|---|---|---|
| June 23, 2025 | 283.70 | +0.17 | +0.06% |
| June 22, 2025 | 283.87 | 0.00 | 0.00% |
| June 21, 2025 | 283.87 | +0.05 | +0.02% |
| June 20, 2025 | 283.82 | +0.09 | +0.03% |
| June 19, 2025 | 283.73 | +0.09 | +0.03% |
| June 18, 2025 | 283.64 | +0.14 | +0.05% |
| June 17, 2025 | 283.50 | +0.03 | +0.01% |
Key Observations:
- The PKR strengthened by a net Rs. 0.20 over the week, a cumulative gain of 0.07%.
- The largest single-day gain was on June 23 (Rs. 0.17), while June 22 showed no movement.
- Open market rates remain slightly higher, with a selling rate of Rs. 285.30 on June 23.
Why Did the Rupee Strengthen?
Today’s minor appreciation is driven by:
- Improved Remittance Inflows: Remittances from overseas Pakistanis rose by 2% in June 2025, boosting dollar supply in the interbank market.
- Geopolitical Easing: A temporary lull in Iran-Israel tensions has softened global USD demand, providing breathing room for emerging currencies like the PKR.
- State Bank Support: The State Bank of Pakistan’s (SBP) recent measures, including tighter controls on dollar outflows, have stabilized the interbank rate.
Unique Insights
- Kerb Market Crackdown: Authorities have intensified raids on illegal currency traders in Karachi, reducing the ‘kerb’ rate gap to Rs. 1–2 above interbank rates, down from Rs. 5 last month.
- Hidden Remittance Boost: Unofficial data suggests a 10% spike in USD inflows via hawala channels ahead of Eid-ul-Adha, which indirectly supported the PKR.
- Oil Payment Relief: Pakistan’s recent agreement to settle partial oil import bills in Chinese Yuan has eased USD demand, saving an estimated $50 million monthly .
