Karachi, November 16, 2024 – The open market currency exchange rates for various currencies in Pakistan for Saturday, November 16, 2024, have been released, reflecting slight fluctuations in global and regional trading conditions.
The US Dollar (USD), a benchmark currency for trade, is being traded at Rs. 277.40 for buying and Rs. 278.90 for selling. The Euro (EUR) follows closely as a major currency, with its rates at Rs. 290.85 buying and Rs. 293.60 selling, showing a stable yet slightly higher trend compared to the week before.
In the regional context, the Indian Rupee (INR) stands significantly lower, trading at Rs. 3.34 for buying and Rs. 3.45 for selling, indicative of a broader gap in market dynamics between the two neighboring economies. Similarly, the Chinese Yuan (CNY) currency shows moderate demand, traded at Rs. 38.58 buying and Rs. 38.98 selling.
Among Middle Eastern currencies, the Saudi Riyal (SAR) and the UAE Dirham (AED) currency, which are pivotal for remittances and trade, remain steady at Rs. 73.65/74.20 and Rs. 75.35/76.00, respectively. The Kuwaiti Dinar (KWD), known for its strong valuation globally, is being traded at Rs. 894.99 buying and Rs. 904.49 selling, maintaining its position as the highest-valued currency in the open market.
The British Pound Sterling (GBP), a key currency for international trade, shows resilience with its rates at Rs. 349.55 buying and Rs. 353.05 selling. Meanwhile, the Australian Dollar (AUD) and Canadian Dollar (CAD) are traded at Rs. 181.25/181.43 and Rs. 198.16/200.56, respectively, reflecting steady performances in the market.
Currencies like the Japanese Yen (JPY) and Swiss Franc (CHF) also continue to maintain their distinct positions, traded at Rs. 1.92/1.98 and Rs. 311.45/314.25, respectively.
These rates are subject to change during the day as market dynamics evolve, influenced by global trade trends, geopolitical events, and domestic economic conditions. Businesses, travelers, and investors are advised to monitor these fluctuations closely.
The open market provides a snapshot of the ongoing interaction between demand and supply, underlining its importance in shaping Pakistan’s economic and financial landscape.
