Karachi, November 4, 2024 – Pakistan’s open market currency exchange rates for Monday, November 4, 2024, reflect some significant fluctuations as traders and investors start the week with careful observation of foreign currency movements.
The US Dollar (USD) continues to attract attention, opening at a buying rate of PKR 277.25 and a selling rate of PKR 278.75. This rate remains relatively stable but shows minor upward pressure as the demand for dollars stays consistent amidst global market uncertainties and domestic inflationary concerns.
The British Pound Sterling (GBP), always a high-value currency, opened today with a buying rate of PKR 355.55 and a selling rate of PKR 359.05. The GBP has seen some appreciation as global investors turn to more stable economies, and the demand for the pound increases across international markets. Meanwhile, the Euro (EUR) opened with a buying rate of PKR 299.9 and a selling rate of PKR 302.65, showing steady demand within the Eurozone and against other major currencies.
In the Gulf currencies, the Kuwaiti Dinar (KWD) holds its status as one of the strongest currencies, trading today at a buying rate of PKR 897.37 and a selling rate of PKR 906.87. Similarly, the Bahraini Dinar (BHD) and Omani Riyal (OMR) show substantial values, with the BHD at PKR 731.21 buying and PKR 739.21 selling, while the OMR trades at PKR 715.71 buying and PKR 724.21 selling. The Saudi Riyal (SAR) and the UAE Dirham (AED) are also crucial currencies in Pakistan’s open market, trading at PKR 73.65 and PKR 75.35 for buying, and PKR 74.2 and PKR 76.0 for selling, respectively.
The Canadian Dollar (CAD) and Australian Dollar (AUD) also show modest activity in the market. The CAD opened at PKR 200.6 buying and PKR 203 selling, while the AUD stands at PKR 182.29 buying and PKR 184.54 selling. These currencies remain essential for Pakistani expatriates and travelers dealing in these regions.
Asian currencies like the Chinese Yuan (CNY) and Japanese Yen (JPY) continue to maintain lower values in Pakistan’s currency exchange landscape. The CNY opened at PKR 38.88 buying and PKR 39.28 selling, while the JPY stood at PKR 1.92 buying and PKR 1.98 selling.
These currency rates offer insights into the demand for foreign currencies in Pakistan, influenced by factors such as import needs, remittances, and international trade dynamics. Investors, travelers, and businesses keep a close eye on these rates, as they play a pivotal role in planning transactions and forecasting economic impacts within Pakistan.
