Karachi, April 06, 2026 – The State Bank of Pakistan has released its newest Mark-to-Market (M2M) currency rates for authorized dealers, presenting updated reference values for foreign exchange transactions against the Pakistani Rupee (PKR). This update is crucial for traders, importers, exporters, and remittance senders to navigate current market conditions.
The US Dollar, Pakistan’s most actively traded foreign currency, is quoted at PKR 279.07 for same-day settlements. Forward premiums on the USD show moderate increases, with the one-year forward rate projected at PKR 289.76, indicating a cautious market expectation of gradual rupee depreciation in the near term. The USD/PKR rate remains a fundamental benchmark for international trade, remittance inflows, and servicing foreign debt obligations.
Meanwhile, the British Pound continues to maintain a strong premium against the rupee, trading at PKR 370.00 for ready transactions. The forward market reflects steady upward momentum with the 1-year contract valued at PKR 382.61. This rate holds particular significance for Pakistani expatriates in the UK and importers handling British goods and services, influencing remittance and bilateral trade flows.
In a significant development, the Kuwaiti Dinar leads as the highest-valued currency against the PKR, quoted at PKR 909.18 on a ready basis. Given the substantial number of Pakistani workers in the Gulf Cooperation Council region, the KWD/PKR rate directly impacts remittance inflows from Kuwait. Forward rates suggest a gradual appreciation trend, with the 1-year rate at PKR 951.58, reflecting sustained demand for Gulf currencies.
The Qatari Riyal is priced at PKR 76.52 for same-day settlements. Considering the sizeable Pakistani labor force in Qatar’s energy, construction, and service sectors, this rate is closely monitored for calculating remittances and managing cross-border trade. Forward pricing remains stable, with the 12-month rate at PKR 79.40, indicating limited expected volatility within the Gulf currency basket.
The Bahraini Dinar also holds firm at PKR 740.25 for ready transactions. As another key currency for Pakistani expatriates in the Gulf, the BHD/PKR rate influences money transfers and trade settlements with Bahrain. Forward curves point to moderate appreciation, with the 1-year projection at PKR 767.07, aligning with broader regional currency trends.
The Canadian Dollar is quoted at PKR 200.51 for ready value. With expanding educational, immigration, and business connections between Pakistan and Canada, the CAD/PKR rate is increasingly relevant for students, families, and small to medium enterprises engaged in cross-border activities. Forward contracts show moderate upward pressure, with the 1-year rate at PKR 210.91.
Other currencies actively traded in Pakistan’s foreign exchange market today include the Euro at PKR 322.82 and the Japanese Yen at PKR 1.75. Gulf currencies feature the UAE Dirham at PKR 75.98, Saudi Riyal at PKR 74.33, and Omani Rial at PKR 724.87. Asian regional currencies include the Chinese Yuan at PKR 40.55, Malaysian Ringgit at PKR 69.25, Indian Rupee at PKR 3.00, Sri Lankan Rupee at PKR 0.89, and Bangladeshi Taka at PKR 2.27. Other notable rates are the Australian Dollar at PKR 193.48, Swiss Franc at PKR 350.18, Singapore Dollar at PKR 217.41, New Zealand Dollar at PKR 159.81, and South African Rand at PKR 16.55. European currencies such as the Swedish Krona, Norwegian Krone, and Danish Krone are valued at PKR 29.68, PKR 28.70, and PKR 43.19 respectively. Currencies with limited forward liquidity, including the Brazilian Real, Argentine Peso, Turkish Lira, and Indonesian Rupiah, are listed with ready rates only or truncated forward curves.
These Mark-to-Market rates are issued daily by the State Bank of Pakistan to assist authorized dealers in revaluing their foreign exchange books. The USD/PKR M2M rate is calculated as a weighted average of closing interbank rates from brokerage houses, while rates for other currencies are derived using cross-rates against the USD based on LSEG Workspace data.
