Karachi: The Exchange Companies Association of Pakistan (ECAP) has released the latest currency exchange rates, showing slight fluctuations across major currencies. The data provides a snapshot of buying and selling rates for key currencies such as the US dollar, euro, British pound, Japanese yen, UAE dirham, and Saudi riyal on October 22 and 23, 2024.
According to Exchange Companies Association of Pakistan, the US dollar saw a marginal decrease in buying and selling rates from 276.94 and 278.72 on October 22 to 276.91 and 278.67 on October 23. Similarly, the euro dipped slightly from buying and selling rates of 298.64 and 300.75 to 298.15 and 300.25 over the same period. The British pound and Japanese yen followed this trend with minor adjustments in their exchange values.
The rates for the UAE dirham and Saudi riyal remained relatively stable with negligible changes noted. The interbank rates for the US dollar also showed minimal variance, maintaining a narrow spread.
These figures are indicative of a stable foreign exchange market in Pakistan, with no significant volatility observed in the major currencies. This stability is crucial for businesses and investors who rely on predictable exchange rates for planning and decision-making.