The Pakistani Rupee is holding steady versus the US Dollar on the open market on Monday after losing ground versus the green back across the previous week. Last week the Pakistani Rupee started trading at 156.71, before closing on Friday at 158.60.

At 10:30 UTC USD/PKR is trading at 158.2 after the US announced a $1 million dollar aid package for Pakistan and as the US Senate failed to agree on a massive funding package for the US.

Initial Economic Loss Expected To Be Rs1.3 Trillion

The Pakistani Rupee was holding its ground at the start of the week even as risk sentiment took another hit. Coronavirus fears continue to drive the broader market with investors moving funds out of riskier assets.

Initial estimates from Asian Development Bank (ADB) suggest that the Pakistan economy could face economic losses in the region of Rs1.3 trillion owing to the coronavirus outbreak. These losses are expected to be incurred across different sectors of the economy and will result in a drop in the GDP.

The news comes after the US announced that it will fund $1 million to Pakistan to help it in its fight against coronavirus. So far in Pakistan over 450 people have contracted the virus and 2 people have died. The $1 million is to bolster monitoring and rapid response against the virus.

However, Prime Minister Imran Khan has demanded that measures should go and loans to all poor countries should be waivered. Mr Khan said Pakistan does not have the resources to deal with the outbreak whilst cautioning that coronavirus will devastate economies of developing counties.

Rescue Package Still Not Agreed

The US Dollar was trading broadly weaker versus its peers after the US Senate failed to agree to a massive funding package to cushion the impact of coronavirus on the US economy. The final vote tally was 47 – 47, well short of the 60 votes required to advance the bill.

Despite the bill failing to progress President Trump remained positive that the lawmakers would push he $1 trillion rescue package through sooner rather than later.

There is no high impacting data due today. Instead investors will look to Washington for developments in Congress. is a news site only and not a currency trading platform. is a site operated by TransferWise Inc. ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.