Karachi, The Pakistani currency market saw slight fluctuations in exchange rates for major currencies between May 4 and May 6, 2024, as per the latest data released by the Exchange Companies Association of Pakistan. The adjustments in rates come as financial analysts observe global economic trends impacting local forex movements.

According to Exchange Companies Association of Pakistan, the US Dollar (USD) saw an increment in both buying and selling rates, climbing from 276.57 to 276.73 for buying and from 279.20 to 279.38 for selling over the course of the weekend. Similar trends were observed in the Euro and the British Pound (GBP), with both currencies experiencing a slight rise in their rates in the local market.

On May 4, the Euro was bought at 295.18 and sold at 297.90, which slightly increased by May 6 to a buying rate of 295.65 and a selling rate of 298.33. The GBP followed a similar pattern, moving from a buying rate of 344.58 to 345.04 and from a selling rate of 347.74 to 348.14. Other currencies like the Japanese Yen (JPY), the UAE Dirham (AED), and the Saudi Riyal (SR) also showed minor adjustments.

The report also highlighted the interbank rates for the USD, which were listed for the first time over the weekend, standing at 278.24 for buying and 278.44 for selling.

These shifts in currency values are reflective of the ongoing adjustments in the global financial landscape, impacting local exchange markets and economic planning within Pakistan.