Karachi, October 8, 2024 – The following are the latest currency exchange rates in Pakistan as of the beginning of trade on Tuesday, October 8, 2024. These rates represent the values at which different foreign currencies are being bought and sold in the open market, indicating a snapshot of Pakistan’s ongoing foreign exchange landscape.
As global economic conditions continue to fluctuate, Pakistan’s open market reflects a mixture of strong currencies from both developed and developing economies. The exchange rate of the US Dollar (USD) currency remains a key indicator of Pakistan’s international trade health. On October 8, 2024, the US Dollar was being bought at PKR 278.25 and sold at PKR 279.75. This slight movement continues to impact imports and exports, affecting the overall economic outlook.
Similarly, the British Pound Sterling (GBP) currency, one of the strongest global currencies, was priced at PKR 362.5 for buying and PKR 365.9 for selling, reflecting the continued strength of the UK currency in the Pakistani market. The Euro (EUR) also holds its position as a major currency, with buying rates at PKR 302.75 and selling rates at PKR 305.5, keeping it a significant player in foreign exchange.
Among regional currencies, the Saudi Riyal (SAR) and the United Arab Emirates Dirham (AED) hold importance due to the large number of Pakistani expatriates working in Gulf countries. On this day, the Saudi Riyal was being bought at PKR 73 and sold at PKR 74.25, while the Dirham stood at PKR 75.45 for buying and PKR 76.1 for selling.
In the Asian region, the Chinese Yuan (CNY) remained stable at PKR 39.6 for buying and PKR 40 for selling. Pakistan’s increasing trade with China under the China-Pakistan Economic Corridor (CPEC) further elevates the significance of this exchange rate.
Meanwhile, currencies like the Australian Dollar (AUD) and Canadian Dollar (CAD) are also monitored closely by investors and travelers. The AUD was being bought at PKR 188.5 and sold at PKR 191.05, whereas the CAD stood at PKR 206 for buying and PKR 207.75 for selling.
The foreign exchange market in Pakistan remains dynamic, influenced by global trends, economic policies, and geopolitical developments. These currency rates provide insight into the country’s financial position on the global stage, offering a gauge for trade, investment, and economic stability.