Pakistani Rupee Surpasses Indian Counterpart in Value Stability
The Pakistani Rupee (PKR) has outperformed its Indian counterpart (₹) over the past year, showing higher stability against the US Dollar. According to official exchange rate records from the State Bank of Pakistan (SBP), the PKR appreciated in value by a mild 0.3% compared to the greenback, moving up from 279.50 per US Dollar to 278.65 per US Dollar over the last 12 months.
The Indian Rupee, on the other hand, depreciated by 8.4% against the US Dollar, falling from 87 per US Dollar to 95 per US Dollar during the same period. The Reserve Bank of India (RBI) attributed this decline to elevated global US Dollar demand and consistent Foreign Portfolio Investor (FPI) equity sell-offs.
Experts point out that while a weaker rupee can support service exporters, it also strains the national current account deficit due to higher crude oil costs. A depreciating rupee directly impacts India's Gross Domestic Product (GDP), raising foreign import bills and driving domestic inflation.