Karachi, August 31, 2024 – The open market currency exchange rates for various foreign currencies in Pakistan were reported at the beginning of trade today. As of Saturday, August 31, 2024, the rates reflect minor fluctuations in the buying and selling prices of several currencies, highlighting the dynamic nature of the global currency market.
The US Dollar (USD) is trading at 278.65 for buying and 279.75 for selling. This slight variation from previous days indicates a stable position in the foreign exchange market amid ongoing economic adjustments in both domestic and international sectors.
In the case of the UK Pound Sterling (GBP), the currency is being bought at 365.5 and sold at 369. The Pound’s strength in the market reflects ongoing currency volatility in response to global economic policies and market sentiments.
The Euro (EUR) is buying at 309 and selling at 312, showing relatively consistent rates compared to last week, while the Australian Dollar (AUD) is buying at 186.5 and selling at 189.18. Similarly, the Canadian Dollar (CAD), another significant currency, is trading at 202.65 for buying and 205 for selling. Both the AUD and CAD rates suggest that traders are cautiously optimistic, influenced by shifts in commodity prices and economic forecasts from their respective regions.
In the Middle Eastern currencies, the Kuwaiti Dinar (KWD) is notably strong, trading at 903.45 for buying and 908.53 for selling. The Omani Riyal (OMR) and Bahrain Dinar (BHD) follow suit, with buying rates at 723.13 and 732.6, and selling rates at 727.21 and 740.6, respectively. The stability of these currencies indicates a robust economic standing in their regions, backed by significant oil reserves and financial policies.
Asian currencies such as the Japanese Yen (JPY), Chinese Yuan (CNY), and Indian Rupee (INR) are trading at 1.98, 38.25, and 3.34 for buying, and 1.99, 38.65, and 3.45 for selling, respectively. The slight variations in these currencies are influenced by ongoing economic reforms and trade activities in Asia.
In terms of Gulf currencies, the Saudi Riyal (SAR) and U.A.E Dirham (AED) are trading at 73.8 and 75.6 for buying, and 74.4 and 76.25 for selling, respectively. The stability of these currencies highlights the strong economic ties and consistent foreign exchange policies in the Gulf region.
Overall, today’s currency exchange rates in Pakistan indicate a stable yet cautious trading environment, with minor fluctuations across various currencies. These rates provide insight into market trends and economic conditions, reflecting the interplay of global financial activities and domestic economic strategies.
