Karachi, November 14, 2024 – Pakistan’s open market saw updated currency exchange rates on Thursday morning, reflecting the latest buying and selling trends across various foreign currencies. As global economic shifts continue to influence foreign exchange, today’s rates mark key fluctuations in popular currencies used for trade, travel, and investments in Pakistan.
The exchange rate for the US Dollar, a crucial benchmark for the Pakistani market, opened with a buying rate of Rs 277.9 and a selling rate of Rs 279.4. The British Pound Sterling followed with a higher value, set at Rs 351.45 for buying and Rs 354.95 for selling, reflecting the strong demand for the currency within the open market.
In the Gulf currency segment, the Saudi Riyal was observed at Rs 73.65 for buying and Rs 74.2 for selling, while the UAE Dirham was pegged at Rs 75.35 for buying and Rs 76 for selling. The Kuwaiti Dinar, one of the highest-valued currencies in the market, traded at Rs 894.99 for buying and Rs 904.49 for selling, underscoring its continued strength against the Pakistani Rupee.
Across the Asia-Pacific region, the Australian Dollar opened with buying and selling rates of Rs 181.25 and Rs 183.5, respectively, while the Canadian Dollar recorded rates of Rs 200.16 for buying and Rs 202.56 for selling. The Chinese Yuan, increasingly used for regional trade, stood at Rs 38.58 for buying and Rs 38.98 for selling, maintaining its competitive value in the market.
European currencies reflected varied rates, with the Euro trading at Rs 292.85 for buying and Rs 295.6 for selling. The Swiss Franc, a currency often perceived as a safe investment, opened at Rs 312.3 for buying and Rs 315.1 for selling, reflecting its stability in the exchange market.
Other notable currencies include the Japanese Yen, which opened at Rs 1.92 for buying and Rs 1.98 for selling, and the Indian Rupee, trading at Rs 3.34 for buying and Rs 3.45 for selling. The Qatari Riyal was valued at Rs 75.62 for buying and Rs 76.32 for selling, showing steady demand among Gulf currencies.
These rates are subject to fluctuations throughout the day, influenced by international market trends, regional economic activities, and domestic financial policies. For travelers, traders, and investors, staying informed about these rates is crucial as they navigate transactions and investments involving foreign currency. The State Bank of Pakistan continues to monitor these rates closely to manage the economic impacts of exchange rate shifts on the national economy.
