The latest currency exchange rates for Friday indicate relative stability in Pakistan’s foreign exchange market, as the Pakistani Rupee (PKR) maintains its ground against major global currencies. These mid-week rates provide crucial insight for investors, importers, exporters, and travelers as they navigate a volatile global economic environment and shifting macroeconomic dynamics.
As of the opening of business today, the US Dollar (USD) continues to trade within a narrow band, with buying at PKR 281.10 and selling at PKR 282.60. This consistent performance reflects a short-term stabilization of the PKR, buoyed by tighter monetary policy and positive sentiments surrounding potential IMF inflows. The USD remains a benchmark for most international trade and remittances, making its trajectory critical to Pakistan’s economic strategy.
The Euro (EUR) shows moderate movement, with the buying rate at PKR 318.05 and the selling rate at PKR 320.80. The fluctuation is attributed to recent economic developments across the Eurozone, where inflation control efforts and revised GDP forecasts have impacted the currency’s global standing. While not as widely traded in Pakistan as the USD or AED, the Euro still plays a notable role in European trade and remittance corridors.
The British Pound Sterling (GBP), historically one of the strongest global currencies, is currently being bought at PKR 372.05 and sold at PKR 375.55. The Pound’s resilience is shaped by positive indicators from the UK economy and its continued influence on bilateral trade and Pakistani expatriate remittances from the UK. For many in the business and education sectors, the Pound’s performance directly affects cost structures and overseas financial planning.
From North America, the Canadian Dollar (CAD) is seeing slight gains, with the exchange rate posted at PKR 203.60 buying and PKR 206.00 selling. These rates reflect optimism from Canada’s recent macroeconomic data, including steady job growth and a favorable interest rate outlook. For Pakistanis studying or working in Canada, this rate has implications for monthly remittances and currency conversions.
Within the Gulf region, exchange rates for the Saudi Riyal (SAR) and UAE Dirham (AED) remain steady. The SAR is being bought at PKR 75.05 and sold at PKR 75.60, while the AED stands at PKR 76.60 for buying and PKR 77.25 for selling. Given that a significant portion of Pakistan’s remittance inflows originate from Saudi Arabia and the UAE, these rates are closely monitored by families and businesses alike.
Among high-value currencies, the Kuwaiti Dinar (KWD) remains the most expensive foreign currency, trading at PKR 905.20 for buying and PKR 914.70 for selling. The Bahraini Dinar (BHD) is not far behind, with exchange rates at PKR 743.25 buying and PKR 751.25 selling. These Gulf currencies play a pivotal role in the financial planning of expatriates working in these countries, influencing savings, remittance values, and investment decisions in Pakistan.
Currency exchange rates are influenced by a blend of global and domestic factors—ranging from oil prices, inflation expectations, central bank policies, to geopolitical tensions. For Pakistan, developments such as external debt repayments, IMF negotiations, and trade balances have continued to impact the rupee’s movement. Additionally, evolving political situations in the region and fluctuations in global financial markets can lead to abrupt shifts in rates.
In today’s dynamic economic landscape, it’s essential for individuals and businesses dealing in foreign exchange to remain informed. Market participants are encouraged to consult verified and real-time sources before making decisions related to currency conversion or international payments, as intra-day volatility can lead to rapid changes.
As of now, the rupee’s relative calm in the open market provides a breather to the economy, offering temporary stability. However, sustained resilience will depend on continued economic reforms, disciplined monetary policy, and external financial support to buffer against future shocks.