Karachi, October 9, 2024 – The currency exchange rates in Pakistan have been updated as of Wednesday, October 9, 2024. These rates are effective at the start of trade in the open market and reflect the ongoing fluctuations in global currencies, driven by a variety of international and domestic economic factors. Here’s a summary of today’s key rates across major currencies against the Pakistani Rupee (PKR).
The exchange rate for the US Dollar (USD) currency, one of the most closely watched currencies in Pakistan, stands at PKR 278.25 for buying and PKR 279.75 for selling. This continues to reflect the dollar’s strength amid global economic uncertainties, including the impact of rising interest rates in the U.S. and volatile oil prices, which Pakistan relies heavily on for imports.
The UK Pound Sterling (GBP) currency shows a notable value of PKR 361.00 for buying and PKR 364.50 for selling. The British currency has maintained its higher value compared to the Pakistani rupee due to steady economic policies in the UK and its historically strong performance against most global currencies.
The Euro (EUR) also trades higher against the PKR, with buying rates at PKR 303.00 and selling at PKR 305.75. The Eurozone has been grappling with inflationary pressures, but the currency remains robust in comparison to the rupee, largely due to the stronger economic recovery across Europe.
In the Middle East, the Saudi Riyal (SAR) is being traded at PKR 73.65 for buying and PKR 74.20 for selling. The Kuwaiti Dinar (KWD) remains the highest valued currency against the Pakistani Rupee, with a staggering PKR 898.63 for buying and PKR 908.13 for selling.
For those interested in trading with Asian currencies, the Chinese Yuan (CNY) is priced at PKR 39.60 for buying and PKR 40.00 for selling, while the Japanese Yen (JPY) is trading at PKR 1.92 for buying and PKR 1.98 for selling.
Australia’s Dollar (AUD) is valued at PKR 187.75 for buying and PKR 189.17 for selling, and the Canadian Dollar (CAD) stands at PKR 204.64 for buying and PKR 207.04 for selling.
These exchange rates are influenced by a range of factors, including international trade dynamics, foreign currency reserves, inflation, and government policies. Traders and businesses across Pakistan closely monitor these rates as they impact import and export costs, remittances, and overall economic activity in the country.
Disclaimer: Rates are subject to fluctuations throughout the day based on market conditions.