Karachi, April 03, 2026 – The State Bank of Pakistan (SBP) has released the latest Mark-to-Market (M2M) currency rates for authorized dealers, offering updated reference values for foreign currency dealings against the Pakistani Rupee (PKR).
In a significant development, the US Dollar (USD), Pakistan’s most actively traded foreign currency, is quoted at PKR 279.10 for same-day settlements. Forward premiums indicate a moderate depreciation of the rupee, with the 1-year USD/PKR rate forecasted at PKR 289.80. This rate continues to serve as the primary benchmark for international trade, remittance inflows, and servicing foreign debts.
The British Pound (GBP) remains strong against the rupee, trading at PKR 369.50 for ready transactions. Forward markets show a steady rise, with the 1-year GBP/PKR rate at PKR 382.04. This rate is particularly significant for UK-bound remittances and bilateral trade involving Pakistani expatriates and importers of British goods and services.
Notably, the Kuwaiti Dinar (KWD) holds the highest value against the PKR at PKR 909.57 in ready trades. As a crucial currency for Pakistani workers in the Gulf Cooperation Council (GCC) countries, the KWD/PKR exchange rate directly influences remittance inflows from Kuwait. Forward rates suggest gradual appreciation, with the 1-year rate projected at PKR 951.47, reflecting ongoing demand for Gulf currencies.
The Qatari Riyal (QAR) is quoted at PKR 76.55 for same-day settlements. Given the large Pakistani workforce in Qatar’s energy, construction, and service sectors, this rate is closely monitored for remittance calculations and cross-border trade. Forward pricing remains stable, with the 12-month rate at PKR 79.45, indicating limited volatility within the Gulf currency group.
The Bahraini Dinar (BHD) stands firm at PKR 739.34 in ready transactions. As another key Gulf currency used by Pakistani expatriates, the BHD/PKR rate affects money transfers and trade settlements with Bahrain. Forward curves point to moderate appreciation, with the 1-year rate expected to reach PKR 766.01, consistent with broader regional currency trends.
The Canadian Dollar (CAD) trades at PKR 200.48 for ready value. With increasing educational, immigration, and business connections between Pakistan and Canada, the CAD/PKR rate is gaining importance for students, families, and small to medium enterprises involved in cross-border activities. Forward contracts show moderate upward pressure, with the 1-year rate at PKR 210.86.
Beyond these primary currencies, several other major and regional currencies are actively quoted in Pakistan’s foreign exchange market today. The Euro (EUR) stands at PKR 322.18, while the Japanese Yen (JPY) is at PKR 1.75. Gulf currencies include the UAE Dirham (AED) at PKR 75.99 and Saudi Riyal (SAR) at PKR 74.35. Asian currencies feature the Chinese Yuan (CNY) at PKR 40.58, Malaysian Ringgit (MYR) at PKR 69.26, and Indian Rupee (INR) at PKR 3.01. Other notable rates include the Australian Dollar (AUD) at PKR 192.83, Swiss Franc (CHF) at PKR 349.82, Singapore Dollar (SGD) at PKR 217.12, and Omani Rial (OMR) at PKR 725.03.
Currencies with limited forward market liquidity, such as the Brazilian Real (BRL), Argentine Peso (ARS), and Turkish Lira (TRY), are quoted only at ready rates or have truncated forward curves, reflecting reduced market activity.
