Karachi, September 28, 2024 – The foreign currency exchange market in Pakistan saw slight fluctuations as the trading week began today, with updated exchange rates for various global currencies.
The open market in Pakistan, particularly in Karachi, remains a key indicator for currency exchange trends, influencing traders and businesses involved in international transactions. The rates provided here are based on the buying and selling prices of the currencies in Pakistan’s open market as of Saturday, September 28, 2024.
The US Dollar (USD), which has remained a strong focus for traders, is currently being bought at PKR 278.8 and sold at PKR 280.3. This is a minor adjustment from the previous trading day, indicating stability as global oil prices and inflation concerns continue to impact the currency. The British Pound Sterling (GBP) also continues to trade at a high rate, with the buying price at PKR 369.85 and the selling price at PKR 373.35. The strong performance of the pound may be attributed to favorable economic conditions in the UK, along with its traditionally high exchange value against the Pakistani rupee.
Among other notable currencies, the Euro (EUR) is being traded at PKR 308.55 for buying and PKR 311.3 for selling. Meanwhile, the Australian Dollar (AUD) stands at PKR 191 for buying and PKR 193.25 for selling. The Canadian Dollar (CAD), another frequently traded currency in Pakistan, saw buying rates at PKR 206.6 and selling at PKR 209. The steady performance of these currencies reflects relative stability in global markets.
In the Middle Eastern currency markets, the Kuwaiti Dinar (KWD) remains the highest valued currency, with a buying rate of PKR 898.65 and a selling rate of PKR 908.15. The Saudi Riyal (SAR), which is widely exchanged in Pakistan due to religious tourism and trade, is being bought at PKR 73.75 and sold at PKR 74.3. Similarly, the UAE Dirham (AED) is trading at PKR 75.45 for buying and PKR 76.1 for selling.
Currencies from Asian neighbors also showed consistent rates, with the Chinese Yuan (CNY) being bought at PKR 39.6 and sold at PKR 40. The Indian Rupee (INR) saw a buying rate of PKR 3.34 and a selling rate of PKR 3.45.
As trading continues, fluctuations in these rates are expected, influenced by international market conditions, political developments, and global trade policies. Traders and businesses are advised to monitor the market closely.
