Karachi, July 8, 2022 – The foreign currency exchange market in Pakistan opened on Friday with new rates for various global currencies against the Pakistani Rupee (PKR). The updated open market currency rates, released at 9:26 AM (Pakistan Standard Time), reflect ongoing volatility in the foreign exchange market driven by global economic pressures and domestic demand fluctuations.
As of July 8, the US Dollar (USD), the most actively traded foreign currency in Pakistan, is being bought at Rs. 206.00 and sold at Rs. 209.50. This highlights the continuous upward pressure on the rupee as foreign demand for the greenback remains strong. Similarly, the UK Pound Sterling (GBP) is being traded at Rs. 248.00 (buying) and Rs. 251.00 (selling), while the Euro (EUR) is available at Rs. 213.50 for buying and Rs. 217.50 for selling.
Among the Gulf currencies, the Saudi Riyal (SAR) is being bought at Rs. 54.50 and sold at Rs. 55.30, and the UAE Dirham (AED) stands at Rs. 55.70 (buying) and Rs. 56.50 (selling). The Kuwaiti Dinar (KWD), one of the highest-valued currencies, is being exchanged at Rs. 671.70 and Rs. 676.70.
Other prominent foreign currencies include the Canadian Dollar (CAD) at Rs. 157.99 (buying) and Rs. 159.34 (selling), and the Australian Dollar (AUD) at Rs. 139.81 (buying) and Rs. 141.06 (selling). The Singapore Dollar (SGD) is trading at Rs. 146.76 (buying) and Rs. 148.06 (selling), reflecting its steady position in the currency market.
Asian currencies also showed marginal movements. The Chinese Yuan (CNY) is being traded at Rs. 30.72 (buying) and Rs. 30.97 (selling), while the Japanese Yen (JPY) stands at Rs. 1.47 for buying and Rs. 1.51 for selling. The Indian Rupee (INR) remains low at Rs. 2.59 (buying) and Rs. 2.67 (selling).
The currency exchange rates listed below are valid for open market trading and are subject to change based on supply and demand dynamics. Analysts expect continued fluctuations in the foreign currency rates as Pakistan manages external debt, import payments, and foreign reserve stability. Market watchers are advised to keep a close eye on these evolving currency rates for informed financial decisions.
Complete Open Market Foreign Currency Rates (July 8, 2022):
| Currency | Buying | Selling |
| USD | 206.00 | 209.50 |
| GBP | 248.00 | 251.00 |
| EUR | 213.50 | 217.50 |
| AED | 55.70 | 56.50 |
| SAR | 54.50 | 55.30 |
| KWD | 671.70 | 676.70 |
| CAD | 157.99 | 159.34 |
| AUD | 139.81 | 141.06 |
| SGD | 146.76 | 148.06 |
| CNY | 30.72 | 30.97 |
| JPY | 1.47 | 1.51 |
| INR | 2.59 | 2.67 |
| CHF | 213.04 | 214.79 |
| MYR | 46.37 | 46.82 |
| QAR | 56.22 | 56.72 |
| OMR | 536.79 | 541.29 |
| BHD | 548.93 | 553.43 |
| NZD | 126.79 | 127.99 |
| NOK | 20.76 | 21.06 |
| DKK | 28.46 | 28.81 |
| SEK | 19.77 | 20.07 |
| HKD | 26.08 | 26.43 |
| THB | 5.94 | 6.04 |