Karachi, October 3, 2024 – As the market opened today, the foreign currency exchange rates for several currencies in Pakistan were announced. These rates are significant as they affect a wide range of economic activities, from international trade to personal remittances.
The US Dollar (USD) continues to be a key currency in the Pakistani market, with a buying rate of PKR 278.50 and a selling rate of PKR 280. The American currency remains a crucial factor in international trade and remittances, making its fluctuations highly impactful for the economy. The strong demand for the dollar in local and global markets is often reflected in its steady value.
The Euro (EUR) also remains a major currency for the Pakistani market. On October 3, the buying rate for the Euro stands at PKR 305.70, while the selling rate is PKR 308.45. The Euro’s movement in the market is closely watched, especially given the significant trade between European countries and Pakistan. Similarly, the UK Pound Sterling (GBP) is one of the highest valued currencies today, with a buying rate of PKR 366.85 and a selling rate of PKR 370.35, demonstrating its continued strength in the global currency market.
The neighboring countries’ currencies such as the Indian Rupee (INR) and Chinese Yuan (CNY) are also vital in bilateral trade and cross-border transactions. The Indian Rupee is being traded at a buying rate of PKR 3.34 and a selling rate of PKR 3.45, while the Chinese Yuan is priced at PKR 39.60 for buying and PKR 40 for selling. These rates are crucial for cross-border trade, especially with China being one of Pakistan’s biggest trading partners.
Among the Gulf currencies, the Kuwaiti Dinar (KWD) remains the highest valued currency in Pakistan with a buying rate of PKR 898.75 and a selling rate of PKR 908.25. The Saudi Riyal (SAR) and UAE Dirham (AED), commonly used in remittances from the Middle East, also hold significant positions with buying rates of PKR 73.75 and PKR 75.45, respectively.
The fluctuating exchange rates reflect the economic dynamics and global financial shifts, as Pakistan continues to navigate its fiscal challenges in a highly interconnected world.
