Karachi, January 20, 2025 – The open market in Pakistan started trading today with a mix of stability and fluctuations in currency exchange rates, reflecting both local and international market dynamics.
The US Dollar (USD) currency, a critical benchmark for trade and remittances, opened with a buying rate of PKR 279.6 and a selling rate of PKR 281.1. This marginal stability offers some relief amidst the prevailing uncertainty in the global financial markets.
The Euro (EUR), another significant currency for Pakistani traders and importers, stood at PKR 288 for buying and PKR 290.75 for selling. The Euro’s consistent strength highlights its position as a stable currency amid economic concerns in the Eurozone.
In the Middle East, the Saudi Riyal (SAR) and UAE Dirham (AED) remain critical for Pakistani expatriates sending remittances back home. The SAR was recorded at PKR 74.2 for buying and PKR 74.75 for selling, while the AED traded at PKR 75.85 for buying and PKR 76.5 for selling. These stable rates ensure predictable remittance flows for families dependent on overseas earnings.
Among Asian currencies, the Japanese Yen (JPY) was relatively steady, trading at PKR 1.78 for buying and PKR 1.84 for selling. The Chinese Yuan (CNY), reflecting China’s growing economic ties with Pakistan, opened at PKR 37.59 for buying and PKR 37.99 for selling, maintaining its importance for bilateral trade.
The UK Pound Sterling (GBP) saw higher trading levels, with a buying rate of PKR 342 and a selling rate of PKR 345.5. Its strength indicates ongoing demand from businesses engaged in trade with the United Kingdom.
In addition, the Australian Dollar (AUD) was traded at PKR 174.25 for buying and PKR 176 for selling, while the Canadian Dollar (CAD) remained at PKR 194.6 for buying and PKR 197 for selling, showing slight variations that could impact importers of commodities like wheat and oil.
These exchange rates are subject to change throughout the day based on market trends and central bank interventions. However, the current rates provide a snapshot of Pakistan’s trading dynamics on this date, emphasizing the critical role of currency stability in economic planning.