Karachi, August 28, 2024 – The currency exchange rates in the open market in Pakistan saw varied movements on Wednesday, August 28, 2024, reflecting the global economic dynamics and domestic market trends. The rates below reflect the opening market trade.
The US Dollar (USD) currency, a key currency for trade and investment, was trading at 278.5 for buying and 280 for selling, showcasing stability amidst global economic uncertainties. The UK Pound Sterling (GBP) currency continued to be one of the highest-valued currencies in the market, with a buying rate of 365.2 and a selling rate of 368.7, indicating strong demand.
In the Middle Eastern currencies, the Kuwaiti Dinar (KWD) remained the most robust, with a buying rate of 903.45 and a selling rate of 908.53. The Bahrain Dinar (BHD) and Omani Riyal (OMR) were also significant, with buying rates at 732.6 and 723.13, and selling rates at 740.6 and 727.21, respectively. The Saudi Riyal (SAR) and U.A.E Dirham (AED), commonly used in remittances, were trading at 73.9 and 75.6 for buying and 74.45 and 76.25 for selling, respectively.
In the Asia-Pacific region, the Australian Dollar (AUD) was trading at 186.93 for buying and 189.18 for selling, while the New Zealand Dollar (NZD) was slightly lower at 169.34 for buying and 171.34 for selling. The Chinese Yuan (CNY) saw a buying rate of 38.25 and a selling rate of 38.65, reflecting its role in trade with Pakistan. The Japanese Yen (JPY), at 1.98 for buying and 1.99 for selling, showed minor movement.
European currencies like the Euro (EUR) and the Swiss Franc (CHF) displayed stability, with the Euro buying and selling at 309.4 and 311.89, respectively, and the Swiss Franc at 324 for buying and 328.94 for selling. The Swedish Korona (SEK) and Norwegian Krone (NOK), lesser-traded currencies in Pakistan, were bought at 26.15 and 26.14, respectively, with selling rates at 26.45 and 26.44.
Other significant currencies included the Canadian Dollar (CAD) at 202.65 buying and 207 selling, and the Singapore Dollar (SGD) at 201.75 for buying and 203.75 for selling. The Malaysian Ringgit (MYR) was trading at 59.25 for buying and 60.25 for selling.
Overall, the currency market in Pakistan remained largely stable, with minor fluctuations in rates reflecting global market conditions and domestic economic factors. Traders and investors are advised to monitor these rates closely as they continue to navigate a complex economic landscape.
