Currency Rates Fluctuate in Pakistan’s Forex Market

Karachi, The Exchange Companies Association of Pakistan reported slight fluctuations in foreign exchange rates for major currencies including the US dollar, euro, and British pound on April 9, 2024, compared to the previous day.

According to Exchange Companies Association of Pakistan, the buying and selling rates for the US dollar on April 9 were 276.82 and 279.37 respectively, showing a minor decrease from the previous day’s rates of 277.02 and 279.58. The euro experienced a slight increase, with rates moving from 298.34 and 301.06 on April 8 to 298.84 and 301.47 on April 9. The British pound also saw an increase, with buying and selling rates going from 348.21 and 351.39 to 348.65 and 351.84 respectively.

The Japanese yen (JPY), United Arab Emirates dirham (AED), and Saudi riyal (SR) remained relatively stable, with minimal changes in their exchange rates. The interbank rates for the US dollar remained nearly constant at around 277.94 and 278.14.

These minor shifts in currency values reflect the dynamic nature of Pakistan’s foreign exchange market, influenced by various economic and geopolitical factors. The reported exchange rates provide a snapshot of the market movements and are essential for businesses, investors, and financial analysts monitoring the economy's pulse.