USD exchange rates today: Rupee dips against major currencies

Dollar reaches $278.05, Euro at €310.62, and British pound at £372.58 as PKR fluctuates in the market.

The US dollar rose to Rs278.05 on Monday in the latest foreign exchange update from the National Bank of Pakistan (NBP).

The buying rate for the dollar stands at Rs277.55, indicating the continuing depreciation of the Pakistani rupee.

In addition to the dollar, several other currencies recorded significant movements.

The euro is being sold at Rs310.62, with a buying rate of Rs310.06.

The British pound has surged to Rs372.58, while its buying rate is set at Rs371.91

The Canadian dollar is trading at Rs206.01 for selling and Rs205.64 for buying.

Meanwhile, the Australian dollar stands at Rs193.00 for selling and Rs192.65 for buying.

Among Gulf currencies, the UAE dirham is set at Rs76.29 for selling and Rs76.15 for buying, while the Saudi riyal stands at Rs74.19 for selling and Rs74.06 for buying.

The rise in foreign currency rates, particularly the US dollar, comes at a time of economic instability in Pakistan, with inflation rising and foreign reserves dwindling. Analysts are closely monitoring the exchange rates as the rupee continues to face significant pressure.

The International Monetary Fund (IMF) approved a $7 billion bailout package for Pakistan under its Extended Fund Facility (EFF), marking the 25th IMF programme in the country's history.

The programme aims to stabilise the economy, increase tax revenues, and address fiscal risks.

The package requires Pakistan to introduce new taxes, cut subsidies, and shift responsibilities for health and education to provincial governments.

Complete list of buying and selling rates:

• US Dollar (USD): Selling Rs 278.05, Buying Rs 277.55

• Euro (EUR): Selling Rs 310.62, Buying Rs 310.06

• British Pound (GBP): Selling Rs 372.58, Buying Rs 371.91

• Canadian Dollar (CAD): Selling Rs 206.01, Buying Rs 205.64

• Australian Dollar (AUD): Selling Rs 193.00, Buying Rs 192.65

• UAE Dirham (AED): Selling Rs 76.29, Buying Rs 76.15

• Saudi Riyal (SAR): Selling Rs 74.19, Buying Rs 74.06

• Qatar Riyal (QAR): Selling Rs 76.37, Buying Rs 76.23

• Kuwaiti Dinar (KWD): Selling Rs 912.58, Buying Rs 910.94