Karachi, August 30, 2024 – The open market foreign currency exchange rates for today indicate varied fluctuations across different currencies. These rates provide insight into the ongoing economic landscape in Pakistan as the country navigates through economic challenges and opportunities. Below are the latest rates for various currencies as the market opens today.
The US Dollar (USD) currency, a significant benchmark for Pakistan’s currency market, is currently being bought at 278.5 PKR and sold at 280 PKR. The Dollar’s slight fluctuation reflects the continued demand for the currency amid the global economic dynamics and domestic needs for foreign exchange, particularly for imports and debt servicing.
The Euro (EUR) currency stands at 309.4 PKR for buying and 311.89 PKR for selling. The Euro has shown a stable trend, largely reflecting the Eurozone’s economic performance and its impact on foreign exchange markets globally.
The UK Pound Sterling (GBP) currency, another crucial currency for trade and investment, is trading at 365.2 PKR buying and 368.7 PKR selling. This is a reflection of the UK’s recent economic measures and their global financial market influence.
Among the Middle Eastern currencies, the Saudi Riyal (SAR) is being traded at 73.9 PKR for buying and 74.45 PKR for selling, and the UAE Dirham (AED) at 75.6 PKR buying and 76.25 PKR selling. The stability in these currencies reflects the consistent demand from Pakistani expatriates working in the Gulf region, who are key contributors to remittance inflows.
The Australian Dollar (AUD) is currently priced at 186.93 PKR for buying and 189.18 PKR for selling, while the Canadian Dollar (CAD) is at 202.65 PKR and 207 PKR for buying and selling, respectively. These rates are influenced by the respective countries’ economic performances and their trade relationships with Pakistan.
In the Asian market, the Japanese Yen (JPY) is trading at 1.98 PKR buying and 1.99 PKR selling, while the Chinese Yuan (CNY) stands at 38.25 PKR for buying and 38.65 PKR for selling. The movements in these currencies often reflect broader economic conditions in Asia and their trading ties with Pakistan.
The Kuwaiti Dinar (KWD), one of the highest valued currencies, is currently at 903.45 PKR for buying and 908.53 PKR for selling, indicating its strength in the global market.
Other notable currencies include the Swiss Franc (CHF) at 324 PKR buying and 328.94 PKR selling, and the Malaysian Ringgit (MYR) at 59.25 PKR buying and 60.25 PKR selling.
Overall, today’s rates reflect the ongoing adjustments in the foreign exchange market as influenced by global economic trends, regional trade relationships, and domestic economic policies. These fluctuations are significant for traders, businesses, and expatriates, all of whom closely monitor these rates to make informed financial decisions.
