The National Bank of Pakistan (NBP), through its Treasury Management Division, has released the latest foreign exchange rates for Wednesday, providing an updated snapshot of key global currency values against the Pakistani Rupee. These rates, which play a significant role in determining the market sentiment for both individual and institutional forex transactions, are issued regularly to ensure transparency and consistency in foreign currency dealings.
According to the figures released, the US Dollar remains a central benchmark, with the telegraphic transfer (TT) selling rate posted at Rs282.30 and the TT buying rate at Rs281.80. This marginal spread reflects relative stability in the local exchange market despite broader global currency fluctuations and macroeconomic pressures.
The Euro followed closely behind with a TT selling rate of Rs319.85 and a TT buying rate of Rs319.29, maintaining its position as a key currency for trade and investment flows with the European Union. Meanwhile, the British Pound Sterling (GBP) was quoted at Rs379.16 for selling and Rs378.49 for buying, indicating strong performance among major global currencies.
Other notable entries in the list include the Swiss Franc (CHF), selling at Rs343.16 and buying at Rs342.55, and the Canadian Dollar (CAD), which saw a selling rate of Rs203.27 and a buying rate of Rs202.91. The Australian Dollar (AUD) was not far behind, trading at Rs182.06 for selling and Rs181.74 for buying.
Asian currencies also featured prominently. The Japanese Yen (JPY), often seen as a safe haven in global markets, was quoted at Rs1.9633 for selling and Rs1.9598 for buying. The Chinese Yuan (CNY), reflecting the strength of trade relations with Pakistan, was posted at Rs39.35 and Rs39.28 respectively. South Korea’s Won (KRW), though lower in absolute value, showed modest movement with selling and buying rates of Rs0.2037 and Rs0.2034.
The rates for currencies of regional and Gulf countries were also shared. The United Arab Emirates Dirham (AED) stood at Rs77.39 for selling and Rs77.25 for buying, while the Saudi Riyal (SAR) was priced at Rs75.27 and Rs75.14 respectively. The Qatari Riyal (QAR) was listed at Rs77.68 for selling and Rs77.54 for buying, and the Kuwaiti Dinar (KWD), the most valuable currency in the list, was priced at Rs920.62 for selling and Rs918.99 for buying.
NBP also issued conversion rates for frozen foreign currency deposits, with settlement scheduled for Friday, 23 May 2025. For these deposits, the USD conversion rate is Rs281.8889, while the GBP stands at Rs377.2519, EUR at Rs317.5478, and JPY at Rs1.9536. These rates provide important benchmarks for customers holding legacy foreign currency accounts.
It is important to note that the exchange rates published by NBP are not applicable for transactions exceeding USD 5,000 or its equivalent in other currencies on a cumulative basis. This policy reflects the bank’s regulatory compliance and effort to manage risks in large-scale forex transactions while providing a reference for retail-level exchanges.
As the financial sector continues to evolve in Pakistan, timely updates like these from major institutions such as NBP are crucial for importers, exporters, investors, and overseas Pakistanis who rely on accurate forex information for their financial planning. The issuance of these rates also aligns with the broader push toward greater transparency and improved financial governance in the banking sector.
Overall, the latest forex bulletin from NBP reflects a cautiously optimistic tone for the Pakistani Rupee, with relative stability across most major currencies, amid a backdrop of evolving global economic conditions and domestic monetary policies.