Karachi, September 27, 2024 – As the week draws to a close, foreign currency exchange markets in Pakistan remain active, with fluctuating rates across a variety of currencies.
The currency exchange rates provided below reflect the beginning of trade on Friday in the open market.
The US Dollar (USD) currency continues to dominate the market, with a buying rate of PKR 278.75 and a selling rate of PKR 280.25. The value of the dollar has maintained a steady upward trend in recent months, impacting Pakistan’s economy, particularly in sectors dependent on imports.
The currency British Pound Sterling (GBP) is also trading significantly higher, with a buying rate of PKR 368.85 and a selling rate of PKR 372.35. As one of the strongest currencies globally, the pound remains a key player in foreign exchange transactions within Pakistan. Meanwhile, the Euro (EUR) is also holding strong, trading at PKR 308.1 for buying and PKR 310.85 for selling.
The Gulf region’s currencies are consistently high in demand, with the Kuwaiti Dinar (KWD) currency being the most valuable currency listed today. The Kuwaiti Dinar is being traded at a buying rate of PKR 899.25 and a selling rate of PKR 908.75. Other currencies from the Middle East, such as the Bahraini Dinar (BHD) and the Omani Riyal (OMR), are also performing robustly, with rates of PKR 732.75 and PKR 717.2 for buying, respectively.
The Saudi Riyal (SAR) and the UAE Dirham (AED), widely used by Pakistani expatriates in the Middle East for remittances, continue to trade at stable rates. The Saudi Riyal is being bought at PKR 73.76 and sold at PKR 74.35, while the UAE Dirham stands at PKR 75.5 for buying and PKR 76.15 for selling.
Among other notable currencies, the Australian Dollar (AUD) and the Canadian Dollar (CAD) are being traded at PKR 190.5 and PKR 206.6 for buying, respectively. The Chinese Yuan (CNY) remains in the spotlight as well due to growing trade relations between Pakistan and China, with a buying rate of PKR 39.
As markets fluctuate, these exchange rates will continue to impact various sectors, including imports, exports, and remittances, shaping the broader economic landscape of Pakistan. Investors and businesses alike will keep a close eye on currency trends as they navigate the ever-changing financial environment.
