Karachi, October 14, 2024 – The latest currency exchange rates in Pakistan for Monday, October 14, 2024, show varying trends for international currencies against the Pakistani rupee as the open market begins its trading week.
The exchange rates are critical for businesses, investors, and expatriates, as they indicate the value of foreign currencies when traded within the Pakistani market.
The US dollar (USD) currency, which serves as a benchmark for many international transactions, is being bought at PKR 278.25 and sold at PKR 279.75. This slight movement reflects the continued demand for the dollar amidst a fluctuating global financial market, with both local and international economic developments playing a role in its value.
The Euro (EUR) currency is being traded at PKR 302.05 for buying and PKR 304.80 for selling, maintaining its strong position against the rupee, reflecting the Eurozone’s economic stability. The British Pound Sterling (GBP) is also holding strong, being bought at PKR 360.35 and sold at PKR 363.85, showcasing the strength of the UK’s currency amid international shifts.
In the Middle Eastern currencies, the Kuwaiti Dinar (KWD) currency remains one of the highest valued currencies globally, being traded at PKR 898 for buying and PKR 907.50 for selling. The Bahraini Dinar (BHD) is close behind, with a buying rate of PKR 731.71 and a selling rate of PKR 739.71. Both currencies are favored in the remittance market due to their strong exchange rates, especially for Pakistanis working in the Gulf region.
The Saudi Riyal (SAR) and the UAE Dirham (AED), the key currencies in the Gulf region, are being traded at PKR 73.65 and PKR 74.20, and PKR 75.40 and PKR 76.05 for buying and selling, respectively. These currencies are crucial for millions of Pakistani expatriates in Saudi Arabia and the UAE who send remittances back to their families.
Asian currencies like the Chinese Yuan (CNY) and Japanese Yen (JPY) also remain relatively stable, being traded at PKR 39.60 and PKR 40.00 for the Yuan, and PKR 1.92 and PKR 1.98 for the Yen.
Overall, the currency exchange rates in Pakistan reflect both global economic conditions and local market demands, with the US dollar and other major currencies continuing to play a significant role in trade and remittances. The fluctuations will likely continue as both domestic and international factors influence the market.