KARACHI: The foreign exchange market in Pakistan updated the buying and selling rates for major foreign currencies this morning at 9:40 AM. These rates serve as a crucial benchmark for individuals and businesses engaging in trade, travel, and remittances.
The US Dollar (USD) remains a focal currency, trading at a buying rate of 167.9 PKR and a selling rate of 169.4 PKR. The dollar’s movement continues to influence Pakistan’s import and export dynamics significantly.
Among Gulf currencies, the Saudi Riyal (SAR) is trading at 44.45 PKR for buying and 45.05 PKR for selling, while the UAE Dirham (AED) is slightly higher, with rates of 45.45 PKR and 46.05 PKR, respectively. These currencies are particularly important for remittances, as a significant portion of Pakistan’s overseas workforce resides in the Gulf region.
The Euro (EUR), a strong global currency, is trading at 197 PKR for buying and 199 PKR for selling. This rate reflects the euro’s steady value, which is crucial for Pakistani exporters dealing with European markets.
The British Pound Sterling (GBP), known for its high value, is at a buying rate of 232.6 PKR and a selling rate of 235.1 PKR, underlining its premium position in international markets.
Asian currencies like the Japanese Yen (JPY) are trading at 1.41 PKR for buying and 1.44 PKR for selling, while the Chinese Yuan (CNY) is available at 23.7 PKR and 23.85 PKR, reflecting its significance for trade with China, Pakistan’s largest trading partner.
For travelers and businesses in Oceania, the Australian Dollar (AUD) stands at 121.6 PKR for buying and 123.6 PKR for selling, whereas the Canadian Dollar (CAD) is trading at 133.1 PKR and 135.1 PKR, respectively, highlighting the importance of these currencies for trade and educational remittances.
These rates are subject to fluctuations based on market trends and demand. As the foreign exchange market evolves throughout the day, stakeholders are advised to monitor these changes for informed decision-making. Pakistan’s open market remains dynamic, catering to the diverse needs of its economy and population.
