Currency Rates Fluctuate Slightly in Pakistan’s Forex Market

Karachi, The foreign exchange market in Pakistan witnessed modest fluctuations in currency rates between March 28 and March 29, 2024. The US dollar, Euro, British Pound, Japanese Yen, UAE Dirham, and Saudi Riyal all saw slight changes in their buying and selling prices over the period.

According to Exchange Companies Association of Pakistan, the US dollar's buying rate decreased marginally from 278.04 to 277.86, while the selling rate adjusted from 280.41 to 280.27. Similarly, the Euro fell from a buying rate of 298.99 to 297.63 and a selling rate of 301.90 to 300.47. The British Pound's rates also dipped slightly, from 349.07 buying to 348.72, and from 352.34 selling to 351.89.

In contrast, the Japanese Yen remained stable with a buying rate of 1.80 and a selling rate fluctuating minimally from 1.84 to 1.84. The UAE Dirham and Saudi Riyal experienced minor adjustments in their exchange rates, with the Dirham buying rate decreasing from 75.45 to 75.40 and selling rate from 76.16 to 76.12, and the Riyal moving from a buying rate of 73.70 to 73.65 and a selling rate of 74.39 to 74.35.

The interbank rate for the US dollar also showed a slight decrease, moving from 278.03 to 277.95 on the buying end, and 278.23 to 278.15 on the selling end. These changes reflect the ongoing dynamics in Pakistan's foreign exchange market, indicating subtle shifts rather than significant volatility.