The open market foreign currency exchange rates in Pakistan saw slight fluctuations on Monday, September 11, 2023. These rates are based on the buying and selling prices of various foreign currencies against the Pakistani Rupee (PKR).
The information provided below is updated as of 09:00 AM Pakistan Standard Time (PST), and may vary slightly throughout the day depending on market dynamics.
Foreign exchange dealers across Pakistan reported the US Dollar (USD) trading at a buying rate of PKR 299.00 and a selling rate of PKR 302.00. This indicates continued volatility in the demand and supply of the greenback, which remains the most traded foreign currency in the Pakistani open market.
The Saudi Riyal (SAR) was being bought at PKR 79.00 and sold at PKR 80.00, while the UAE Dirham (AED) maintained a buying rate of PKR 82.00 and a selling rate of PKR 83.00. These Gulf currencies continue to see stable foreign currency exchange trends due to strong remittance flows from Pakistani expatriates.
European currencies also reflected notable movements. The Euro (EUR) stood at PKR 316.00 (buying) and PKR 321.00 (selling), whereas the British Pound (GBP) was priced at PKR 370.00 and PKR 375.00, respectively. These foreign currency rates highlight the strength of European currencies amid global economic developments.
Other significant rates included the Japanese Yen (JPY) at PKR 2.20 (buying) and PKR 2.29 (selling), and the Swiss Franc (CHF) at PKR 343.80 and PKR 346.30. The Australian Dollar (AUD) traded between PKR 190.00 and PKR 194.00, while the Canadian Dollar (CAD) ranged from PKR 216.00 to PKR 220.00.
In the regional context, the Indian Rupee (INR) was exchanged at PKR 3.69 (buying) and PKR 3.80 (selling), and the Chinese Yuan (CNY) at PKR 43.00 to PKR 45.00.
Foreign currency dealers advise customers to stay updated, as exchange rates are subject to change based on market supply, international trade dynamics, and geopolitical events. The continuous fluctuation in these foreign currency rates reflects the broader economic conditions impacting Pakistan’s external financial transactions.