The Indian rupee continued to weaken against the Pakistani rupee during the past year. Recent exchange rate data showed a clear decline in the value of the Indian currency against Pakistan’s currency.
On May 15, 2025, one Indian rupee was equal to 3.2913 Pakistani rupee in the interbank market. By May 18, 2026, the exchange rate had fallen to 2.901 Pakistani rupee. This reflected an overall decline of 11.86 percent in the Indian currency during the period.
The Indian rupee also recorded a 6.8 percent depreciation since the start of 2026. The figures showed that the Pakistani rupee maintained a stronger position against the Indian currency despite global financial uncertainty.
Both Pakistan and India faced economic pressure during the past year. Rising inflation, global market instability, and tensions linked to Gulf region conflicts affected regional currencies. However, the Indian rupee remained under greater pressure compared to several Asian currencies.
Currency analysts said the stronger performance of the Pakistani rupee became more noticeable after Pakistan entered another program with the International Monetary Fund last year. Since then, the Pakistani currency has shown relatively stable movement against the Indian rupee.
The Indian rupee also weakened against other regional currencies, including the Bangladeshi taka. Experts believe this trend points to broader economic concerns instead of only short-term global shocks.
The strength of the US dollar also continued to affect Asian currencies during 2026. Many countries faced pressure on foreign exchange reserves and import costs. Despite these challenges, the Pakistani rupee retained stronger ground against the Indian currency over the review period.
Financial observers believe future currency performance will depend on inflation control, trade balances, and foreign investment flows. Regional political developments and global oil prices may also influence exchange rates in the coming months.
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Analysts warned that the Indian rupee could remain under pressure if economic challenges continue. At the same time, the Pakistani rupee may stay relatively stable if Pakistan maintains fiscal discipline and meets international financial commitments.
