Foreign exchange trading in Pakistan’s open market remained relatively balanced on Friday with the US dollar remaining below Rs279. According to the latest data, the dollar was available for purchase at Rs278.45 and for sale at Rs279.35.
According to analysts, the current level of the rupee reflects the balance between supply and demand in the market. Although global currencies continue to fluctuate, there was no severe pressure in the local market.
The British pound maintained its strong position and reached a selling level of Rs 378.90 while the euro reached Rs 328.45. Business circles associated with the import sector are constantly monitoring these exchange rates as they are directly related to import costs.
Among Gulf currencies, the Saudi riyal was recorded at Rs 74.80 and the UAE dirham at Rs 76.80. These rates are important for overseas Pakistanis as a major part of remittances comes from these countries.
Other currencies including the Canadian dollar, Australian dollar and Singapore dollar also traded with limited change. Market sources said that if the foreign exchange reserves improve and remittances continue, the pressure on the rupee may further reduce.
Economists believe that global economic indicators, oil prices and central bank policy decisions will influence the currency market trends in the coming weeks.
| Flag | Code | Buying (PKR) | Selling (PKR) |
|---|---|---|---|
 | USD | 278.25 | 279.40 |
 | GBP | 373.07 | 377.60 |
 | AED | 75.75 | 76.75 |
 | CHF | 346.03 | 351.85 |
 | SEK | 30.27 | 30.57 |
 | SGD | 214.68 | 219.75 |
 | SAR | 74.13 | 74.75 |
 | QAR | 74.90 | 76.25 |
 | OMR | 719.22 | 730.32 |
 | NOK | 27.88 | 28.18 |
 | NZD | 159.99 | 164.95 |
 | MYR | 67.18 | 67.88 |
 | KWD | 885.78 | 895.99 |
 | THB | 8.50 | 8.70 |
 | JPY | 1.72 | 1.82 |
 | INR | 2.75 | 3.05 |
 | HKD | 35.01 | 36.01 |
 | EUR | 321.81 | 325.81 |
 | DKK | 43.39 | 43.79 |
 | CNY | 38.05 | 38.80 |
 | CAD | 198.08 | 203.65 |
 | BHD | 735.32 | 745.90 |
 | AUD | 194.24 | 199.65 |
