Karachi, March 26, 2026 – The State Bank of Pakistan (SBP) has published the newest Mark-to-Market (M2M) exchange rates for authorized dealers, offering updated reference points for foreign currency dealings against the Pakistani Rupee (PKR). This update is vital for traders, importers, exporters, and those sending remittances.
The US Dollar (USD), Pakistan’s most frequently traded foreign currency, remains steady at PKR 279.20 for same-day (ready) transactions. Minor forward premiums are observed across various tenors, with the one-year forward rate at PKR 289.88, indicating a modest expectation of rupee depreciation in the near term. The USD/PKR rate continues to serve as a crucial benchmark for international trade, remittances, and foreign debt payments.
Meanwhile, the British Pound (GBP) is trading at PKR 372.40 for ready settlements. The GBP maintains a premium over the rupee, with forward contracts showing an upward trend, reaching PKR 385.00 for one-year agreements. This rate is especially significant for UK-bound remittances and bilateral trade, impacting Pakistani expatriates and importers of British goods.
In a significant development, the Kuwaiti Dinar (KWD) remains the highest-valued currency against the PKR today, quoted at PKR 910.49 on a ready basis. Given the large number of Pakistani workers in Kuwait, this rate directly affects remittance inflows. Forward projections indicate a gradual appreciation, with the one-year rate at PKR 948.57.
The Qatari Riyal (QAR) is quoted at PKR 76.39 for same-day settlements. With a substantial Pakistani labor force in Qatar’s energy and infrastructure sectors, this rate is closely monitored for remittance calculations. Forward pricing remains stable, with the 12-month rate at PKR 79.28, suggesting limited volatility.
The Bahraini Dinar (BHD) holds firm at PKR 739.51 for ready transactions. As another key Gulf currency for Pakistani expatriates, the BHD/PKR rate influences cross-border money transfers and trade settlements. Forward curves suggest moderate appreciation, with the one-year rate estimated at PKR 765.46.
The Canadian Dollar (CAD) is trading at PKR 201.85 for ready value. With increasing educational and immigration links between Pakistan and Canada, the CAD/PKR rate is becoming more relevant for students, families, and businesses. Forward rates show moderate upward pressure, with the one-year contract priced at PKR 212.29.
Other currencies actively quoted in Pakistan’s foreign exchange market today include the Euro (EUR) at PKR 322.44 and the Japanese Yen (JPY) at PKR 1.75. Gulf currencies feature the UAE Dirham (AED) at PKR 76.02 and the Saudi Riyal (SAR) at PKR 74.42. Asian currencies include the Chinese Yuan (CNY) at PKR 40.44, Malaysian Ringgit (MYR) at PKR 69.92, and Indian Rupee (INR) at PKR 2.97. Additional notable rates are the Australian Dollar (AUD) at PKR 193.71, Swiss Franc (CHF) at PKR 352.24, and Singapore Dollar (SGD) at PKR 217.51. Currencies with limited forward market activity, such as the Brazilian Real (BRL) and Argentine Peso (ARS), are quoted only on a ready basis.
