Karachi, May 12, 2022 – The buying and selling rates of the UK Pound Sterling (GBP) against the Pakistani Rupee (PKR) continued to reflect fluctuations influenced by market demand and currency availability. As per the latest update issued at 8:12 PM Pakistan Standard Time (PST), the exchange rates in the open market were as follows:
• Buying rate: Rs 236.00 per UK Pound Sterling
• Selling rate: Rs 239.00 per UK Pound Sterling
These exchange rates indicate the value at which currency exchange companies and commercial banks are either buying or selling the UK Pound in return for the Pakistani Rupee. Specifically, the buying rate reflects the amount in rupees that an exchange house is willing to pay for one pound, while the selling rate shows how much a customer has to pay in rupees to purchase one pound.
The difference between the buying and selling price is referred to as the spread, which often depends on market volatility, currency liquidity, and international forex trends. In this case, the spread between Rs 236.00 and Rs 239.00 highlights a moderate difference, driven by the ongoing demand for the pound in the local market.
Exchange rates such as the pound-to-rupee parity are determined through market dynamics and are influenced by global financial movements, trade flows, remittances, and monetary policy decisions. Since the pound remains a key global currency, any shifts in the UK economy or political landscape can directly impact its value in rupee terms.
The open market rates of the pound against the rupee are especially significant for individuals involved in overseas education, travel, remittances, and international trade. As the rupee continues to face pressure from external economic conditions, slight variations in the pound exchange rate can have noticeable impacts on the cost of foreign transactions.
It is advisable for consumers to stay updated with real-time data from authorized money changers and banks, as the pound-rupee exchange rate can change multiple times within a single day based on supply and demand.