Karachi, November 3, 2024 – The currency exchange market in Pakistan has seen a range of values for foreign currencies on Sunday, reflecting the previous day’s closing rates at the open market. In a fluctuating global economic environment, these rates offer a snapshot of foreign exchange standings in relation to the Pakistani rupee (PKR) for travelers, traders, and businesses engaged in cross-border transactions.
The U.S. Dollar (USD), a significant marker in the currency market, is trading at PKR 277.25 for buying and PKR 278.75 for selling. As Pakistan’s economy is influenced by the dollar for major imports and debt payments, fluctuations in the dollar’s value directly impact the local economy. Similarly, the United Kingdom’s Pound Sterling (GBP) currency, one of the higher-valued currencies globally, is set at PKR 355.55 for buying and PKR 359.05 for selling. This strong rate is crucial for businesses dealing with imports from the U.K. or planning to send remittances there.
The Euro (EUR) currency is trading at PKR 299.9 for buying and PKR 302.65 for selling, providing competitive rates for those trading with the European Union, especially for imported goods and technology sectors. Among other regional currencies, the Saudi Riyal (SAR) is set at PKR 73.65 for buying and PKR 74.2 for selling, and the UAE Dirham (AED) currency stands at PKR 75.35 for buying and PKR 76.0 for selling. These currencies are of particular importance for Pakistanis working in Gulf countries, as they rely on remittances sent back to support their families.
Asian currencies show diverse standings, with the Chinese Yuan (CNY) at PKR 38.88 buying and PKR 39.28 selling. The Japanese Yen (JPY) has seen moderate trading activity, priced at PKR 1.92 for buying and PKR 1.98 for selling, making it accessible for individuals or businesses dealing with Japanese markets. Meanwhile, the Indian Rupee (INR) is priced at PKR 3.34 for buying and PKR 3.45 for selling.
For those dealing with less common currencies, the Australian Dollar (AUD) stands at PKR 182.29 for buying and PKR 184.54 for selling, while the Canadian Dollar (CAD) is valued at PKR 200.6 for buying and PKR 203.0 for selling. Such variations are particularly relevant for students studying abroad and businesses dependent on imports from these regions.
These exchange rates, influenced by global market dynamics, offer essential insight for those engaged in international transactions and remittances. The open market rates can also serve as an indicator for changes in Pakistan’s economy as it interacts with the global financial system.
