Karachi, November 18, 2024 – The currency exchange market in Pakistan opened with slight fluctuations in rates for various international currencies against the Pakistani Rupee (PKR) on Monday. These rates, as reported in the open market, reflect global economic movements and local demand.
The US Dollar (USD) currency remains one of the most closely watched currencies, opening at a buying rate of PKR 277.40 and a selling rate of PKR 278.90. Meanwhile, the Euro (EUR), another key currency, traded at PKR 290.85 for buying and PKR 293.60 for selling. The British Pound Sterling (GBP) maintained its position as one of the highest-valued currencies, with buying and selling rates at PKR 349.55 and PKR 353.05, respectively.
Among Middle Eastern currencies, the Saudi Riyal (SAR) was valued at PKR 73.65 for buying and PKR 74.20 for selling, while the UAE Dirham (AED) stood at PKR 75.35 and PKR 76.00. The Kuwaiti Dinar (KWD) continued to hold its status as the highest-valued currency in the market, with rates of PKR 894.99 for buying and PKR 904.49 for selling.
Asian currencies such as the Chinese Yuan (CNY) and Japanese Yen (JPY) saw moderate activity. The CNY opened at PKR 38.58 for buying and PKR 38.98 for selling, whereas the JPY traded at PKR 1.92 and PKR 1.98, respectively.
The Australian Dollar (AUD) and Canadian Dollar (CAD) experienced steady rates, opening at PKR 181.25 and PKR 198.16 for buying, with selling rates at PKR 181.43 and PKR 200.56, respectively. The Swiss Franc (CHF), another significant currency, was listed at PKR 311.45 for buying and PKR 314.25 for selling.
Fluctuations in exchange rates are influenced by various factors, including international trade dynamics, remittance flows, and global market trends. Traders, businesses, and individuals closely monitor these rates to make informed financial decisions.
Market participants are advised to stay updated as rates can vary throughout the day based on market demand and external economic factors.
