The Pakistani rupee experienced a significant depreciation against major foreign currencies in the open market, according to the Exchange Companies Association of Pakistan (ECAP).

The data released on April 11, revealed an increases in buying and selling rates for the US dollar, Euro, British pound, Japanese yen, UAE dirham, and Saudi riyal.

The US dollar closed at a buying rate of 280.15 and a selling rate of 282.10. The Euro followed suit with a buying rate of 316.06 and a selling rate of 319.39. Meanwhile, the British pound’s buying and selling rates were recorded at 364.15 and 368.00, respectively.

In the Asian currency category, the Japanese yen’s buying rate stood at 1.90, with a selling rate of 1.95. The UAE dirham and Saudi riyal also saw increased rates, with the former closing at 76.11 for buying and 76.98 for selling, while the latter was at 74.46 for buying and 75.18 for selling.

This depreciation of the rupee against these currencies highlights ongoing challenges in the currency exchange market.