Euro Edges Up to Rs 332.93 in Interbank and Rs 339.50 in Open Market on July 16, 2025
On July 16, 2025, the euro (EUR) gained further against the Pakistani rupee (PKR), with the interbank rate rising to Rs 332.93—an increase of around Rs 0.25 from the previous day. In the open market, the euro was being traded at Rs 339.50, reflecting strong demand and continued rupee pressure.
This rise continues the upward momentum seen throughout July, where the euro has climbed steadily from around Rs 330. The interbank rate has generally stayed within the Rs 330 to Rs 334 range over the past week, indicating a gradual and sustained appreciation.
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Experts attribute the euro’s strength to the relative stability of the eurozone economy, coupled with ongoing pressure on Pakistan’s external reserves and limited foreign exchange inflows. The rupee’s weakening trend is further fueled by high import demand and subdued remittances.
Looking Ahead
If these conditions persist, the euro could break past the Rs 340 barrier in the coming days. However, a boost in remittances during Eid or policy measures by the State Bank of Pakistan may provide short-term stability.
Expert View
According to currency market observers, the euro’s rise is likely to continue unless Pakistan sees a significant improvement in its forex position. Importers and individuals dealing in euros should expect higher conversion costs unless remittance inflows or external funding improve in the near term.
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