Karachi, November 28, 2024 – The foreign currency exchange market in Pakistan commenced trading today, reflecting significant movement in various currencies against the Pakistani Rupee (PKR).
Traders and individuals closely monitor these rates as they play a pivotal role in import/export transactions, remittances, and overall economic activities.
The US Dollar (USD) currency continues to be a central focus, with buying and selling rates at PKR 277.5 and PKR 279, respectively. This steady trend highlights the currency’s dominance in global trade and its impact on Pakistan’s economic framework.
The Euro (EUR) currency is trading at PKR 289.1 for buying and PKR 291.85 for selling, showcasing its strong position in the international currency basket. Meanwhile, the UK Pound Sterling (GBP) currency remains highly valued, trading at PKR 346.8 for buying and PKR 350.3 for selling. These fluctuations are influenced by European market trends and Brexit-related financial adjustments.
Regional currencies like the Saudi Riyal (SAR) and the U.A.E. Dirham (AED) also maintain their importance due to Pakistan’s significant reliance on remittances from the Gulf. Today, the SAR stands at PKR 73.65 (buying) and PKR 74.2 (selling), while the AED is trading at PKR 75.35 for buying and PKR 76 for selling.
From Asia, the Chinese Yuan (CNY) continues to gain traction, trading at PKR 38.58 for buying and PKR 38.98 for selling, reflecting China’s increasing economic ties with Pakistan under CPEC. Similarly, the Japanese Yen (JPY) stands at PKR 1.83 for buying and PKR 1.89 for selling, a stable position driven by strong trade relations.
Among Gulf currencies, the Kuwaiti Dinar (KWD) leads with a buying rate of PKR 892.75 and a selling rate of PKR 902.25, emphasizing its value in the region. The Bahraini Dinar (BHD) follows closely, trading at PKR 731.05 (buying) and PKR 739.05 (selling).
This dynamic currency exchange environment underlines the importance of macroeconomic stability and international trade policies in shaping Pakistan’s financial landscape. As businesses and individuals navigate these rates, the demand for foreign exchange will likely impact the PKR’s value in the coming days.
