Karachi, January 24, 2025 – Pakistan’s open currency market witnessed dynamic activity at the start of trading on Friday, with varying rates for multiple international currencies.
These currency rates play a critical role in shaping trade, remittances, and economic activities across the country. Below is an analysis of the currency exchange rates and their implications.
The US Dollar (USD) currency, a cornerstone of international trade, stood firm with a buying rate of 279.75 PKR and a selling rate of 281.25 PKR. Its stable presence signifies the continuous reliance of Pakistan’s economy on dollar-based transactions for imports and external payments. Similarly, the Euro (EUR) currency showed strong momentum, trading at 290.5 PKR for buying and 293.25 PKR for selling, reflecting robust demand due to ongoing trade with European nations.
Among Middle Eastern currencies, the Saudi Riyal (SAR) remained a steady player, crucial for remittance inflows from Pakistani workers in Saudi Arabia. It traded at 74.2 PKR for buying and 74.75 PKR for selling. Likewise, the UAE Dirham (AED), another vital currency, maintained competitive rates at 75.9 PKR for buying and 76.55 PKR for selling.
The British Pound Sterling (GBP), a traditional heavyweight in the exchange market, continued to command high values, with its buying price at 344 PKR and selling price at 347.5 PKR. Its strength reflects the enduring economic ties between Pakistan and the United Kingdom, particularly in trade and investment.
In the Asia-Pacific region, the Australian Dollar (AUD) and Canadian Dollar (CAD) remained strong contenders. The AUD was available at 175.75 PKR for buying and 178 PKR for selling, while the CAD traded at 194.6 PKR for buying and 197 PKR for selling. Both currencies are significant for facilitating bilateral trade and supporting Pakistani expatriates in these nations.
Currencies such as the Japanese Yen (JPY) and Chinese Yuan (CNY) also saw moderate movement, with buying and selling rates of 1.8 PKR and 1.86 PKR for the JPY, and 37.59 PKR and 37.99 PKR for the CNY, respectively. These currencies are key to Pakistan’s imports of technology and industrial equipment.
With such diverse rates, the exchange market highlights Pakistan’s global economic connections and underscores the role of foreign currencies in sustaining the country’s financial framework.