Currency exchange activity in Pakistan on Thursday, May 8, 2025, reflected a mixed performance across major global currencies, as open market rates showed both modest gains and slight corrections depending on the currency in question. These rates, shared by local forex dealers, are reflective of the opening positions in the day’s trading and are subject to market fluctuations based on demand and other macroeconomic factors.
In the latest update, the US Dollar (USD), a benchmark currency for global trade and the most traded in Pakistan’s forex market, was quoted at Rs281.65 for buying and Rs283.15 for selling. This reflects a relatively stable stance when compared with the previous day, suggesting a cautious but steady sentiment in the currency market.
The British Pound (GBP), historically a strong performer against the Pakistani Rupee, remained firm in the market. Dealers reported it trading at Rs375.50 for buying and Rs379.00 for selling, indicating sustained demand possibly tied to international remittances and import-based payments from the United Kingdom.
Meanwhile, the Euro (EUR) posted moderate movements, trading in a band of Rs319.75 to Rs322.50. Analysts note that while the Eurozone has been facing inflationary pressures, the demand for euros in Pakistan remains linked to trade activity and education-related payments.
Gulf currencies also continued to hold strong amid Pakistan’s deep economic and labor ties with the Middle East. The Saudi Riyal (SAR) was observed at Rs74.95 for buying and Rs75.50 for selling, while the UAE Dirham (AED) stood at Rs76.50 and Rs77.15 respectively. These currencies remain critical for remittances, which are a significant contributor to Pakistan’s foreign exchange reserves.
Among Asian currencies, the Japanese Yen (JPY) was trading between Rs1.98 and Rs2.04. The Chinese Yuan (CNY), another significant regional currency due to Pakistan’s trade relationship with China, was reported at Rs37.59 for buying and Rs37.99 for selling. The Indian Rupee (INR), although not a major trading currency due to limited formal trade ties, was quoted at Rs3.23 to Rs3.32.
Other prominent international currencies also showed varied performance. The Canadian Dollar (CAD) was priced between Rs204.60 and Rs207.00, while the Australian Dollar (AUD) stood at Rs184.25 for buying and Rs186.50 for selling. These rates reflect ongoing adjustments based on global commodity prices and interest rate differentials, particularly in North America and Australia.
Market traders emphasized that these are indicative rates and may differ slightly based on the location, volume of the transaction, and the timing within the trading session. Factors such as foreign travel, imports, international tuition payments, and remittance needs continue to impact demand for specific currencies on a day-to-day basis.
Experts pointed out that the relative stability of the Pakistani Rupee in recent sessions has brought a sense of predictability to the open market. However, concerns over inflation, foreign exchange reserves, and global interest rate trends persist as key variables affecting the currency’s long-term outlook.
As always, financial analysts advise individuals and businesses to refer to updated forex data and consult with licensed exchange providers before executing significant currency transactions. The currency market, being one of the most responsive economic indicators, continues to provide valuable insights into both domestic economic performance and international financial sentiment.