Karachi, October 30, 2024 – The currency exchange rates Pakistan saw mixed trends today, reflecting a range of fluctuations across various currencies.
As trading opened in the local market, major foreign currencies such as the US Dollar, Euro, and UK Pound Sterling maintained their strong positions, showing slight variations from previous rates.
The US Dollar (USD) remained a focal point, opening at a buying rate of PKR 277.25 and a selling rate of PKR 278.75. The greenback has consistently held a strong value against the Pakistani Rupee, given the ongoing demand for USD in both trade and remittances. This demand reflects Pakistan’s import needs and international debt servicing requirements, putting the Rupee under sustained pressure.
The Euro (EUR), another key currency, recorded a buying rate of PKR 297.4 and a selling rate of PKR 300.15, indicating its steady strength against the Pakistani Rupee. The GBP (British Pound Sterling) also saw significant value, trading at PKR 356.85 for buying and PKR 360.35 for selling, maintaining its position as one of the highest-value foreign currencies in the market.
Among the Gulf currencies, the Saudi Riyal (SAR) was available at a buying rate of PKR 73.6 and a selling rate of PKR 74.15, while the UAE Dirham (AED) traded at PKR 75.3 for buying and PKR 75.95 for selling. The Bahraini Dinar (BHD) and the Kuwaiti Dinar (KWD), two of the strongest currencies in the Gulf, were trading at significantly higher rates of PKR 730.7 and PKR 896.87 respectively for buying, with slight increases on the selling side.
The Australian Dollar (AUD) and Canadian Dollar (CAD) also showed stable positions in the market, with buying rates of PKR 183.75 and PKR 199.56, respectively. Meanwhile, the Chinese Yuan (CNY), a growing currency in international trade, was valued at PKR 38.88 for buying and PKR 39.28 for selling, reflecting China’s continuing trade influence in Pakistan.
The Japanese Yen (JPY), despite being a lower-denomination currency, traded at PKR 1.92 for buying and PKR 1.98 for selling. The Indian Rupee (INR) stood at PKR 3.34 for buying and PKR 3.45 for selling, showing stable rates compared to previous trading sessions.
These currency rates are expected to fluctuate throughout the day depending on global market conditions and local demand. Traders and consumers in Pakistan keep a close watch on these rates, as they impact import costs, remittances, and even inflationary trends across the country.