The selling trend in the open currency market across the country continued as usual on Monday, where the US dollar appears to be maintaining its previous level while the currencies of the Gulf countries are showing a slight improvement. According to currency dealers, there is no unusual pressure in the market at the moment, and most of the transactions are taking place under normal business requirements.
The US dollar is trading at Rs 279.80, and its price is unchanged compared to the previous session. Sources associated with exchange companies say that despite import payments and trade activities, the demand for the dollar remains balanced, resulting in a stable environment in the market.
On the other hand, the Saudi riyal is available at Rs 75.20 and the UAE dirham at Rs 76.80. According to currency dealers, the demand for both currencies is continuing to increase due to remittances and travel needs of Pakistanis living in the Gulf countries, due to which their prices are seeing a slight strengthening.
The British pound is trading at Rs 377.15, while the Canadian dollar is available at Rs 201.45. According to market sources, the slight decline in both currencies is reflecting the effects of ongoing changes in the global foreign exchange market; however, it does not indicate any major trend at the local level.
Financial experts say that the current trend of stability in the open market is considered relatively satisfactory for investors and common consumers. According to them, if there is no unusual change in the global financial situation and the current flow of remittances continues, the local currency market can move forward in a balanced manner in the next few days.
| Currency Pair | Rate (PKR) | % Change |
|---|---|---|
 US Dollar USD → PKR | 279.15 | 0.00% |
 Saudi Riyal SAR → PKR | 75.10 | +0.07% |
 UAE Dirham AED → PKR | 76.90 | +0.13% |
 British Pound GBP → PKR | 378.15 | -0.12% |
 Canadian Dollar CAD → PKR | 200.25 | -0.25% |