Karachi, November 11, 2024 – Pakistan’s currency exchange market opened today with stable exchange rates for major international currencies. As businesses and travelers closely monitor currency trends, the buying and selling rates for currencies such as the US Dollar (USD), Euro (EUR), and UK Pound Sterling (GBP) reflect slight fluctuations from previous days.
The market is responding to global economic movements, including shifts in international trade, oil prices, and inflation rates.
Starting with the US Dollar, a crucial currency in Pakistan’s import and export sectors, the buying rate opened at PKR 277.3, with a selling price of PKR 278.8. The Euro, another widely used currency for trade within Europe, was recorded at PKR 297.25 for buying and PKR 300 for selling. Meanwhile, the British Pound, an essential currency given Pakistan’s strong ties with the UK, stood at PKR 357.45 for buying and PKR 360.95 for selling, reflecting its continued strength against the Pakistani Rupee (PKR).
Among the Middle Eastern currencies, the Kuwaiti Dinar (KWD) maintained a high value, recorded at PKR 895.85 for buying and PKR 905.35 for selling, solidifying its position as one of the most valuable currencies in the Pakistani open market. The Bahraini Dinar (BHD) and Omani Riyal (OMR) also reflected robust figures, with BHD at PKR 731.21 for buying and PKR 739.21 for selling, and OMR at PKR 715.66 for buying and PKR 724.16 for selling. These currencies are particularly relevant for Pakistanis working in the Gulf region, as remittances from expatriate workers play a crucial role in supporting the economy.
The buying and selling rates for the Saudi Riyal (SAR) were PKR 73.65 and PKR 74.2, respectively, and the UAE Dirham (AED) was noted at PKR 75.35 for buying and PKR 76 for selling. These rates hold significant importance due to the extensive trade relationships between Pakistan and Gulf countries, as well as the large Pakistani diaspora in the region.
Asian currencies like the Japanese Yen (JPY) and Chinese Yuan (CNY) remained relatively stable, with the JPY trading at PKR 1.92 for buying and PKR 1.98 for selling, while the CNY stood at PKR 38.58 for buying and PKR 38.98 for selling. These currencies are essential for trade agreements, particularly with China as one of Pakistan’s key economic partners.
Today’s exchange rates highlight the impact of global economic factors on Pakistan’s currency market, which is expected to remain sensitive to both international and local economic developments. As the week progresses, investors and market analysts will continue to monitor these trends closely.
