Karachi, December 19, 2024 – The open market currency exchange rates in Pakistan as of Thursday reflect fluctuations influenced by both global and local economic conditions.
The exchange rates are an essential indicator for businesses, importers, exporters, and travelers alike.
As the global economic landscape continues to shift, the performance of the Pakistani Rupee (PKR) against major international currencies reflects the ongoing challenges in balancing foreign exchange reserves and managing trade deficits. The US Dollar (USD), a key benchmark, opened at a buying rate of PKR 277.75 and a selling rate of PKR 279.25. This slight increase compared to earlier rates underscores the persistent demand for the greenback in international trade and remittance inflows.
The British Pound Sterling (GBP) remains one of the highest-valued currencies against the PKR, with a buying rate of PKR 350.40 and a selling rate of PKR 353.90. Similarly, the Euro (EUR), another significant global currency, traded at PKR 289.75 for buying and PKR 292.50 for selling. The Swiss Franc (CHF) followed closely, opening at PKR 311.29 and selling at PKR 314.09, reflecting its traditional strength as a safe-haven currency.
In the Middle Eastern currency market, the Kuwaiti Dinar (KWD) maintained its status as the highest-valued currency, trading between PKR 896.86 and PKR 906.36. The Omani Riyal (OMR) and Bahraini Dinar (BHD) were also notable, trading at PKR 719.04 to PKR 727.54 and PKR 734.64 to PKR 742.64, respectively. Meanwhile, the Saudi Riyal (SAR) and UAE Dirham (AED), widely used by Pakistani expatriates for remittances, showed stability at buying rates of PKR 73.70 and PKR 75.35, and selling rates of PKR 74.25 and PKR 76, respectively.
Among Asian currencies, the Chinese Yuan (CNY) traded between PKR 37.99 and PKR 38.39, reflecting increasing trade activity between China and Pakistan. The Japanese Yen (JPY) opened at PKR 1.86 for buying and PKR 1.92 for selling. The Indian Rupee (INR), though low in value compared to PKR, traded between PKR 3.18 and PKR 3.27.
With economic uncertainty looming, exchange rate trends are likely to remain volatile. Businesses and individuals dealing in foreign currencies are advised to stay updated with daily rates to make informed financial decisions.