Stable Currency Exchange Rates Observed Over Two-Day Period

Karachi: The Exchange Companies Association of Pakistan reported a relatively stable trend in currency exchange rates over a two-day period, with minor fluctuations observed in major currencies including the USD, EURO, and GBP.

According to Exchange Companies Association of Pakistan, on 6th July 2024, the buying and selling rates for the US dollar were recorded at 278.65 and 280.50 respectively, while the EURO traded at 299.24 and 302.10. The GBP saw slightly higher rates at 353.99 for buying and 357.39 for selling. Other currencies like the Japanese Yen (JPY), UAE Dirham (AED), and Saudi Riyal (SR) also showed minimal changes.

By 8th July 2024, there were slight increases in the buying and selling rates for these currencies. The US dollar moved to 278.73 and 280.50, the EURO was marginally up at 299.25 and 302.10, and the GBP increased to 354.24 and 357.62. The rates for the JPY, AED, and SR remained steady with only minor adjustments.

These stable exchange rates reflect consistent market conditions, despite global economic uncertainties. The interbank rates also showed minimal variation, shifting from 278.38 and 278.58 on the 6th July to 278.50 and 278.70 on the 8th July, indicating a steady banking sector performance.