Karachi, October 18, 2024 – The currency exchange rates in Pakistan for Friday reflect the dynamics of the global market as trading kicks off in the open market. The fluctuating rates present opportunities and challenges for importers, exporters, and investors, while also affecting consumers. Below is a summary of the latest exchange rates for some major currencies.
The US Dollar (USD) currency is being bought at PKR 277.9 and sold at PKR 279.4, marking a steady trend as Pakistan grapples with its economic challenges and the global influence of the dollar. The British Pound Sterling (GBP) currency continues to hold a strong position, with the buying rate at PKR 361.3 and the selling rate at PKR 364.8. With the UK’s currency showing resilience, businesses trading with Britain may feel the pinch as the pound remains expensive.
In the Middle East, the Saudi Riyal (SAR) currency is being bought at PKR 73.6 and sold at PKR 74.15, a rate particularly relevant for Pakistani expatriates working in Saudi Arabia and sending remittances back home. Similarly, the United Arab Emirates Dirham (AED) stands at PKR 75.35 for buying and PKR 76 for selling. Both currencies hold strategic importance due to the large Pakistani diaspora residing in these Gulf nations.
European currencies are also showing their strength. The Euro (EUR) is trading at PKR 300.95 for buying and PKR 303.7 for selling, reflecting the eurozone’s relative stability amidst ongoing global economic pressures. Meanwhile, the Swiss Franc (CHF) remains robust at PKR 320.7 for buying and PKR 323.5 for selling.
Asian currencies reveal mixed trends. The Chinese Yuan (CNY) is priced at PKR 38.88 for buying and PKR 39.28 for selling. China’s economic ties with Pakistan through initiatives like the China-Pakistan Economic Corridor (CPEC) make this rate significant for bilateral trade. The Japanese Yen (JPY) is at PKR 1.92 for buying and PKR 1.98 for selling, reflecting Japan’s cautious economic recovery.
Meanwhile, the Australian Dollar (AUD) and the Canadian Dollar (CAD) are trading at PKR 185.75 and PKR 201.6 respectively for buying, and slightly higher for selling. Both currencies reflect the commodity-driven economies of their respective countries.
These exchange rates provide a snapshot of Pakistan’s interaction with global financial markets, as the country balances its currency value amid economic reforms and international trade challenges.