On March 20, 2025, the treasury management division of the National Bank of Pakistan (NBP) released its latest foreign exchange rates, offering updated figures for various global currencies. These rates provide an essential benchmark for the foreign exchange market and will guide both businesses and individuals in their international transactions.
Among the most significant updates are the rates for major currencies such as the US Dollar (USD), Euro (EUR), British Pound (GBP), and the Japanese Yen (JPY). The NBP’s ready transaction rates, which include both the TT selling and TT buying rates, saw slight adjustments across different currencies.
For instance, the US Dollar remains one of the most widely traded currencies, with the NBP setting the TT selling rate at 280.60 PKR and the TT buying rate at 280.10 PKR. This indicates a modest increase in the selling rate compared to previous periods. Similarly, the Euro’s rates were recorded at 306.15 PKR for TT selling and 305.60 PKR for TT buying, reflecting a slight rise as well.
The British Pound also saw a notable update, with the TT selling rate standing at 365.02 PKR and the TT buying rate at 364.37 PKR. The Swiss Franc, Canadian Dollar, and Australian Dollar also experienced increases in their respective TT selling and buying rates, continuing the trend seen in the major currencies.
Other currencies, such as the Swedish Krona (SEK), Norwegian Krone (NOK), and Danish Krone (DKK), experienced minor adjustments. For example, the Swedish Krona’s TT selling rate stood at 27.96 PKR, while the Norwegian Krone was set at 26.57 PKR. These currencies, while less frequently traded, still saw some fluctuation, indicative of changes in global market conditions.
In the case of the New Zealand Dollar (NZD), Singapore Dollar (SGD), and Hong Kong Dollar (HKD), the TT rates were also updated. For example, the Singapore Dollar saw a TT selling rate of 210.79 PKR, while the Hong Kong Dollar was recorded at 36.11 PKR. These updates reflect the ongoing shifts in global currency markets, influenced by various economic factors.
It is important to note that certain currencies, including the Malaysian Ringgit (MYR), Thai Baht (THB), and Qatari Riyal (QAR), were listed as unavailable for NBP customers. For these specific currencies, no transaction rates were provided, limiting access for those looking to engage in business or personal exchanges involving these currencies.
Another key element of the NBP’s update is the announcement of conversion rates for frozen foreign currency deposits, with the settlement date set for March 24, 2025. For instance, the USD conversion rate for frozen deposits is listed at 280.1756 PKR, while the GBP rate is set at 363.3317 PKR, and the Euro stands at 305.1672 PKR.
However, NBP has emphasized that these rates are not applicable for transactions over 5,000 USD or its equivalent in other currencies. This restriction means that customers looking to exchange larger sums may need to explore alternative financial services or arrangements.
As global markets continue to fluctuate, the NBP’s updates provide important insight into the ongoing changes in Pakistan’s foreign exchange landscape. Businesses engaged in international trade, as well as individual travelers and investors, will find these new rates pivotal when making currency conversions and financial decisions.