There is growing speculation that the Pakistani Rupee (PKR) could depreciate beyond Rs. 300 against the US Dollar (USD) by the end of 2025, as suggested by a segment of market analysts.
As part of a recent survey conducted by Topline Securities—which was tied to the upcoming monetary policy outlook—participants were also asked to share their views on the exchange rate forecast.
According to the results, 51% of respondents believe that the USD/PKR exchange rate will stay between Rs. 285 and Rs. 290 by December 2025. Meanwhile, 15% of participants each anticipate that the rupee could fall within the bands of Rs. 290–295, Rs. 295–300, and even beyond Rs. 300.
Topline itself has forecast that the rupee will end up between Rs. 288 to Rs. 292 by the end of 2025 and, subsequently, further depreciate to between Rs. 298 and Rs. 302 by June 2026.
In the inter-bank market today, PKR was quoted at Rs. 284.97 against the USD.
