Karachi, September 3, 2024 – The open market in Pakistan witnessed fluctuating currency exchange rates today as the trading session commenced on September 3, 2024. Here’s a snapshot of the latest buying and selling rates for various foreign currencies against the Pakistani Rupee (PKR).
The US Dollar (USD), which has remained relatively stable, opened with a buying rate of PKR 278.25 and a selling rate of PKR 279.75. The USD continues to be a significant currency for both importers and exporters in Pakistan, and its rate often sets the tone for other currency exchanges.
In the Middle Eastern currency market, the Saudi Riyal (SAR) was traded at PKR 73.81 for buying and PKR 74.36 for selling, reflecting slight variations due to seasonal demand from Pakistani pilgrims. Meanwhile, the U.A.E Dirham (AED) opened with a buying rate of PKR 75.51 and a selling rate of PKR 76.16, showing minor fluctuations influenced by trade activities in the Gulf region.
The Euro (EUR), one of the prominent currencies traded in the open market, was quoted at PKR 305.50 for buying and PKR 308.25 for selling. The Euro has shown stability despite recent economic data from the Eurozone, which has been closely monitored by currency traders.
The British Pound Sterling (GBP) opened significantly higher at PKR 362.85 for buying and PKR 366.35 for selling, reflecting its strength against the Pakistani Rupee. The GBP’s upward trend can be attributed to positive economic indicators from the UK, which have bolstered the currency’s value in recent days.
Among the Asian currencies, the Chinese Yuan (CNY) was traded at PKR 38.25 for buying and PKR 38.65 for selling. The Yuan’s rates are closely watched, particularly in light of Pakistan’s substantial trade ties with China. Meanwhile, the Japanese Yen (JPY), known for its minimal movements, was quoted at PKR 1.93 for buying and PKR 1.99 for selling.
In the Oceanic region, the Australian Dollar (AUD) was traded at PKR 189.58 for buying and PKR 191.83 for selling, while the New Zealand Dollar (NZD) was quoted at PKR 169.34 for buying and PKR 171.34 for selling. Both currencies have shown resilience, influenced by commodity price changes and economic policies in their respective countries.
Additionally, the Kuwaiti Dinar (KWD), one of the highest-valued currencies in the market, was recorded at PKR 903.50 for buying and PKR 913.00 for selling. This reflects its continued strength due to Kuwait’s robust economic indicators and steady oil prices.
Overall, today’s currency exchange rates in Pakistan’s open market indicate a varied response influenced by global economic trends, regional demand, and local market activities. Traders and investors are advised to monitor these rates closely as they can impact various economic decisions and financial transactions.
