Stability and Minor Fluctuations Mark the Forex Market in Pakistan

Islamabad, The forex market in Pakistan observed stable rates with minor fluctuations across major currencies between May 13 and May 14, 2024, as per the latest data. The US dollar, Euro, British Pound, and other currencies showed slight changes in their buying and selling prices, reflecting a steady market environment.

According to Exchange Companies Association of Pakistan, the US dollar was traded at 277.01 and 279.55 on May 13, which slightly changed to 277.02 and 279.50 on May 14. Similarly, the Euro was bought at 296.64 and sold at 299.46 on the first day, with a slight increase to 297.05 and 299.81 by the following day. The British Pound also showed minor increases from 345.22 to 345.59 in buying and 348.49 to 348.81 in selling rates. Other currencies such as the Japanese Yen, UAE Dirham, and Saudi Riyal exhibited similar stability with marginal adjustments in their exchange rates.

The interbank rate for the US dollar remained stable, moving from 278.20 to 278.18 in buying and 278.40 to 278.38 in selling over the observed period.