KARACHI – April 22, 2025: The foreign currency exchange market in Pakistan opened with minor fluctuations on Tuesday, reflecting ongoing shifts in global financial sentiment and evolving local demand for international currencies. According to market observers and local exchange dealers, these changes are part of the normal volatility seen in currency trading, influenced by international economic cues and domestic requirements.
The open market rates, which differ from the interbank or official State Bank of Pakistan (SBP) rates, provide real-time guidance for travelers, importers, remittance recipients, and other individuals engaged in cross-border financial activities. These rates are subject to intraday changes, influenced by factors such as international capital flows, demand for specific currencies, and macroeconomic trends.
As of Tuesday morning, the US Dollar (USD) continued its position as the dominant foreign currency in Pakistan’s exchange landscape. The greenback was being bought at PKR 280.90 and sold at PKR 282.40. Analysts attributed this relative stability to balanced demand from importers and overseas-bound travelers, coupled with consistent inflows from remittances and export-related earnings.
Among the other major currencies, the Euro (EUR) recorded a buying rate of PKR 322.65 and a selling rate of PKR 325.40. Meanwhile, the British Pound Sterling (GBP) showed continued strength in the local market, trading at PKR 374.90 for buying and PKR 378.40 for selling. This uptick in the Euro and Pound follows recent economic resilience in the Eurozone and United Kingdom, which has bolstered global investor confidence in these currencies.
The Canadian Dollar (CAD) and Australian Dollar (AUD) also exhibited modest appreciation. The CAD was quoted at PKR 202.85 (buying) and PKR 205.25 (selling), while the AUD was available at PKR 180.75 (buying) and PKR 183.00 (selling). These changes were attributed to stronger international trade dynamics and positive market sentiment surrounding commodity-linked currencies.
Currencies from the Middle Eastern region—critical due to the large volume of remittances sent by overseas Pakistani workers—also remained firm. The Saudi Riyal (SAR) was trading at PKR 74.90 (buying) and PKR 75.45 (selling), and the UAE Dirham (AED) stood at PKR 76.35 (buying) and PKR 77.20 (selling). High-value currencies like the Kuwaiti Dinar (KWD) and the Omani Riyal (OMR) were notably strong, with the KWD buying rate at PKR 905.20 and the OMR at PKR 723.79.
The Japanese Yen (JPY), one of the lower-denomination currencies in the market, remained stable at PKR 2.00 (buying) and PKR 2.06 (selling), reflecting consistent trade interest and limited volatility.
Local forex dealers in Karachi mentioned that the demand for foreign currency remained steady, driven by regular commercial payments, tuition fees for students abroad, and personal travel requirements. Despite global uncertainties, the domestic forex market has maintained relative calm, aided by regulatory oversight and stable supply-demand dynamics.
Market participants and the general public are advised to monitor daily exchange rate updates closely, as rates can shift throughout the trading session due to real-time global developments. Staying informed enables more strategic currency transactions, particularly in a market as responsive and sensitive as Pakistan’s open currency exchange environment.