Karachi, August 27, 2024 – The open market currency exchange rates in Pakistan for Tuesday, August 27, 2024, showcase a mixed trend across various international currencies against the Pakistani Rupee (PKR).
The US Dollar (USD), a key benchmark in the market, opened at a buying rate of PKR 278.6 and a selling rate of PKR 280.1, reflecting a stable position compared to previous days.
Among the major currencies, the Euro (EUR) currency showed slight firmness, with its buying rate at PKR 309.4 and the selling rate at PKR 311.89. The British Pound Sterling (GBP) continues to hold a strong position, with the buying rate at PKR 363.41 and the selling rate at PKR 367.71. This trend aligns with the global strength of the Pound amidst economic recovery signals from the UK.
The Australian Dollar (AUD) currency and Canadian Dollar (CAD) currency also demonstrated stability in their rates. The AUD stood at PKR 186.93 for buying and PKR 189.18 for selling, while the CAD was marked at PKR 202.65 for buying and PKR 207 for selling. Similarly, the New Zealand Dollar (NZD) maintained a steady range, with a buying rate of PKR 169.34 and a selling rate of PKR 171.34.
In the Middle East, the Kuwaiti Dinar (KWD) remained the highest valued currency, with a buying rate of PKR 903.45 and a selling rate of PKR 908.53. The Saudi Riyal (SAR) and UAE Dirham (AED) showed consistency, reflecting rates of PKR 73.73 and PKR 75.78 for buying, and PKR 74.43 and PKR 76.23 for selling, respectively.
Asian currencies presented diverse trends, with the Japanese Yen (JPY) buying at PKR 1.98 and selling at PKR 1.99, and the Chinese Yuan (CNY) at PKR 38.25 for buying and PKR 38.65 for selling. The Indian Rupee (INR) remained relatively low, with a buying rate of PKR 3.34 and a selling rate of PKR 3.45.
The Swiss Franc (CHF) showed notable strength with a buying rate of PKR 324 and a selling rate of PKR 328.94, reflecting its safe-haven appeal amidst global economic uncertainties. The Bahraini Dinar (BHD) and Omani Riyal (OMR) also remained firm, with buying rates of PKR 732.6 and PKR 723.13, respectively, and selling rates at PKR 740.6 and PKR 727.21.
Overall, the currency market in Pakistan today displayed a balance between stability and slight fluctuations, influenced by both local and international economic dynamics. Investors and traders are advised to monitor the evolving trends closely, as the currency market remains sensitive to global economic shifts and domestic financial policies.