Karachi, September 7, 2024 – The currency exchange market in Pakistan opened today with a variety of rates for global currencies.
As Pakistan’s economy faces fluctuating conditions, the foreign exchange market continues to reflect changes based on both domestic and international influences. The buying and selling rates of major currencies remained dynamic, reflecting global trends and market forces.
In terms of major currencies, the US Dollar (USD) currency began trading at a buying rate of PKR 278.75 and a selling rate of PKR 280.25. As one of the most influential currencies in Pakistan’s trade and commerce, the US Dollar’s value has remained relatively stable, with only minor fluctuations in the past few weeks.
The British Pound Sterling (GBP) currency also continues to hold strong, with a buying rate of PKR 365.00 and a selling rate of PKR 368.50. The Pound’s strength in the global market continues to reflect the stability of the UK economy, making it a favored currency for exchange in Pakistan. The Euro (EUR) opened at PKR 307.75 for buying and PKR 310.50 for selling, reflecting its continued relevance within the European Union’s economic block.
In the Middle Eastern currencies, the Kuwaiti Dinar (KWD) remains one of the highest-valued currencies against the Pakistani Rupee, with a buying rate of PKR 905.50 and a selling rate of PKR 915.00. The Omani Riyal (OMR) also maintained its strong position at PKR 722.40 for buying and PKR 730.90 for selling, while the Bahraini Dinar (BHD) was traded at PKR 731.10 for buying and PKR 739.10 for selling.
Among the other Asian currencies, the Chinese Yuan (CNY) opened at PKR 38.25 for buying and PKR 38.65 for selling, as China’s influence on Pakistan’s trade continues to grow. The Japanese Yen (JPY) stood at PKR 1.93 for buying and PKR 1.99 for selling.
The Saudi Riyal (SAR) was exchanged at PKR 74.00 for buying and PKR 74.55 for selling, reflecting the continued demand for Saudi currency, especially due to the travel of Pakistani nationals for work and religious pilgrimage. The UAE Dirham (AED) remained in a similar range, trading at PKR 75.65 for buying and PKR 76.30 for selling.
With global economic trends constantly evolving, these rates are subject to change as the day progresses. For traders, investors, and consumers, staying updated on the foreign exchange rates is essential for making informed decisions in the market.
