The Pakistani rupee plunged to Rs 396 per British pound in open market trading, marking its weakest level to date. Earlier this week, the currency briefly touched a range of Rs 390–393 before weakening further today.

This depreciation follows a sharp decline to Rs 391 on June 20 and fluctuated between Rs 388–392 over the preceding days. These rapid movements reflect growing concerns over Pakistan’s economic recovery, increasing external debt, and heightened demand for foreign currency.

Investors and analysts view this trend as a signal of diminished confidence, triggered by persistent fiscal challenges, dwindling foreign reserves, and unpredictable global conditions. Continued rupee weakness may strain inflation rates and increase the cost of imports, especially for essential items. The current scramble for foreign exchange also highlights pressure on Pakistan’s exchange regime and underscores the urgent need for structural reforms to stabilize the currency.