Karachi, January 1, 2025 – The foreign currency exchange market in Pakistan began the New Year with a steady opening. The currency rates, determined by market demand and supply, set the tone for trading on the first day of January.
The US Dollar (USD) currency, which remains the most actively traded currency, was seen at Rs. 278.1 buying and Rs. 279.6 selling in the open market. The Euro (EUR) currency followed with rates of Rs. 288.2 buying and Rs. 290.95 selling, maintaining its position as one of the strongest currencies against the Pakistani Rupee.
Among the Gulf currencies, the Saudi Riyal (SAR) was noted at Rs. 73.8 buying and Rs. 74.35 selling, while the UAE Dirham (AED) traded at Rs. 75.45 buying and Rs. 76.1 selling. The Kuwaiti Dinar (KWD), often regarded as one of the most valuable currencies globally, was traded at Rs. 897.17 buying and Rs. 906.67 selling, reflecting its robust valuation.
Asian currencies, including the Chinese Yuan (CNY), stood at Rs. 37.99 buying and Rs. 38.39 selling, showing stability in trade. Meanwhile, the Japanese Yen (JPY), with its traditionally lower denomination, was exchanged at Rs. 1.86 buying and Rs. 1.92 selling.
Commonwealth currencies also saw active trading. The Australian Dollar (AUD) opened at Rs. 174.75 buying and Rs. 177 selling, while the Canadian Dollar (CAD) was exchanged at Rs. 194.6 buying and Rs. 197 selling. The UK Pound Sterling (GBP) remained strong at Rs. 347.35 buying and Rs. 350.85 selling.
In addition, the Swiss Franc (CHF) noted rates of Rs. 308.12 buying and Rs. 310.92 selling, reflecting its resilience as a preferred reserve currency.
Market analysts suggest that these rates are influenced by a mix of global economic conditions and local demand for foreign exchange, particularly as Pakistan navigates its economic recovery. Traders are advised to monitor trends closely as fluctuations may occur throughout the day.
These rates are indicative and subject to change based on real-time market conditions. Buyers and sellers should confirm rates with authorized money exchanges for transactions.