Karachi, December 11, 2024 – The currency exchange market in Pakistan witnessed notable trends as trading began on Wednesday. The following exchange rates, recorded in the open market, provide insights into the buying and selling values of major foreign currencies against the Pakistani Rupee (PKR).
The US Dollar (USD), a key benchmark currency, opened at a buying rate of PKR 277.60 and a selling rate of PKR 279.10. The British Pound Sterling (GBP) continued its robust streak, trading at PKR 351.50 for buying and PKR 355.00 for selling, maintaining its high value due to global market dynamics.
Among other significant currencies, the Euro (EUR) was quoted at PKR 291.15 for buying and PKR 293.90 for selling. The Canadian Dollar (CAD) was steady, with its rates at PKR 196.60 and PKR 199.00 for buying and selling, respectively, reflecting stable trade relations with Pakistan.
The Australian Dollar (AUD) showed moderate movement, standing at PKR 178.25 for buying and PKR 180.50 for selling. Similarly, the New Zealand Dollar (NZD) was traded at PKR 162.40 for buying and PKR 164.40 for selling, offering a glimpse of stability in trade activities linked to the Asia-Pacific region.
In the Middle Eastern currency segment, the Kuwaiti Dinar (KWD) remained the highest-valued currency, with buying and selling rates of PKR 895.70 and PKR 905.20, respectively. The Saudi Riyal (SAR) and UAE Dirham (AED) also held their ground, trading at PKR 73.65 and PKR 75.40 for buying, and PKR 74.20 and PKR 76.05 for selling.
Asian currencies, including the Chinese Yuan (CNY), were steady at PKR 37.99 for buying and PKR 38.39 for selling. The Japanese Yen (JPY), often seen as a safe-haven currency, was exchanged at PKR 1.84 for buying and PKR 1.90 for selling.
Traders and investors closely monitor these rates as they influence import-export costs and international remittance flows. The exchange rate fluctuations are largely driven by global economic developments, supply-demand dynamics, and domestic fiscal policies.
The ongoing volatility in the global market has made it essential for businesses and individuals to stay updated with the latest currency trends to make informed decisions.