Karachi: In a startling development, the Pakistani rupee has fallen sharply against major global currencies, a trend that experts believe could have significant economic implications. According to the Exchange Companies Association of Pakistan (ECAP), the open market closing rates as of September 29, 2025, show a notable depreciation of the local currency.

The US dollar was pegged at a buying rate of PKR 281.87 and a selling rate of PKR 282.40. Meanwhile, the euro closed at PKR 330.45 for buying and PKR 333.59 for selling. The British pound showed an even more pronounced impact, with buying and selling rates at PKR 379.20 and PKR 382.85, respectively.

Other currencies also reflected this downward trend. The Japanese yen was recorded at PKR 1.87 for buying and PKR 1.92 for selling. Additionally, the United Arab Emirates dirham and Saudi riyal were seen at PKR 76.89 and PKR 77.67, and PKR 75.11 and PKR 75.76, respectively.

Economic analysts caution that the ongoing depreciation of the rupee may lead to increased inflationary pressures, impacting the cost of imports and the overall cost of living. The State Bank of Pakistan has yet to comment on any potential interventions to stabilize the currency market.

As the situation develops, businesses and consumers alike are bracing for the impact of these fluctuations on the economy. The need for strategic financial planning and policy response has never been more urgent, as stakeholders assess the potential long-term effects of this currency market upheaval.