Karachi, April 08, 2026 – The State Bank of Pakistan (SBP) has released its most recent Mark-to-Market (M2M) currency rates for authorized dealers, providing updated reference values for foreign currency transactions against the Pakistani Rupee (PKR). This update is essential for traders, importers, exporters, and remittance senders to monitor current market conditions.
The US Dollar (USD), Pakistan’s most frequently traded foreign currency, is quoted at PKR 279.05 for same-day settlements. The dollar exhibits modest forward premiums across various tenors, with the 1-year forward rate projected at PKR 289.79, indicating a cautious market expectation of gradual rupee depreciation over the next year. The USD/PKR exchange rate remains a critical benchmark for international trade, remittance inflows, and servicing foreign debt obligations.
Meanwhile, the British Pound (GBP) is trading at PKR 374.45 for ready transactions, maintaining a significant premium against the rupee. Forward contracts show steady upward momentum, with the 1-year rate reaching PKR 387.51. This rate is particularly important for UK-bound remittances and bilateral trade, affecting Pakistani expatriates and importers of British goods and services.
In a notable development, the Kuwaiti Dinar (KWD) continues to lead as the highest-valued currency against the PKR, quoted at PKR 910.45 on a ready basis. Given the large number of Pakistani workers in the Gulf Cooperation Council (GCC) region, the KWD/PKR exchange rate directly influences remittance inflows from Kuwait. Forward rates suggest a gradual appreciation with the 1-year rate at PKR 953.43, reflecting sustained demand for Gulf currencies.
The Qatari Riyal (QAR) is priced at PKR 76.54 for same-day settlements. With a considerable Pakistani labor force engaged in Qatar’s energy, construction, and service sectors, this rate is closely monitored for remittance calculations and cross-border trade. Forward pricing appears stable, with the 12-month rate at PKR 79.45, indicating limited volatility within the Gulf currency basket.
The Bahraini Dinar (BHD) holds firm at PKR 739.21 in ready transactions. As another key Gulf currency for Pakistani expatriates, the BHD/PKR rate significantly impacts cross-border money transfers and trade settlements with Bahrain. Forward curves project measured appreciation, with the 1-year rate estimated at PKR 765.85, consistent with broader regional currency trends.
The Canadian Dollar (CAD) is trading at PKR 201.41 for ready value. Growing educational, immigration, and business connections between Pakistan and Canada make the CAD/PKR rate increasingly relevant for students, families, and small-to-medium enterprises engaged in cross-border commerce. Forward contracts indicate moderate upward pressure, with the 1-year rate forecasted at PKR 211.94.
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 326.13, and the Japanese Yen (JPY) at PKR 1.76. Among Gulf currencies, the UAE Dirham (AED) is at PKR 75.98, Saudi Riyal (SAR) at PKR 74.36, and Omani Rial (OMR) at PKR 724.81. Asian currencies include the Chinese Yuan (CNY) at PKR 40.88, Malaysian Ringgit (MYR) at PKR 70.14, Indian Rupee (INR) at PKR 3.01, Sri Lankan Rupee (LKR) at PKR 0.89, and Bangladeshi Taka (BDT) at PKR 2.27.
Other notable rates are the Australian Dollar (AUD) at PKR 196.72, Swiss Franc (CHF) at PKR 354.04, Singapore Dollar (SGD) at PKR 218.92, New Zealand Dollar (NZD) at PKR 162.49, and South African Rand (ZAR) at PKR 17.00. European currencies include the Swedish Krona (SEK) at PKR 30.11, Norwegian Krone (NOK) at PKR 29.11, and Danish Krone (DKK) at PKR 43.64. Emerging market currencies feature the Brazilian Real (BRL) at PKR 54.16, Turkish Lira (TRY) at PKR 6.27, Indonesian Rupiah (IDR) at PKR 0.016, Mexican Peso (MXN) at PKR 15.97, Russian Ruble (RUB) at PKR 3.56, South Korean Won (KRW) at PKR 0.19, and Kazakhstani Tenge (KZT) at PKR 0.59. The Hong Kong Dollar (HKD) is quoted at PKR 35.63, while the Thai Baht (THB) trades at PKR 8.70. The Argentine Peso (ARS) shows limited forward liquidity with a ready rate of PKR 0.20.
These Mark-to-Market rates issued by the State Bank of Pakistan serve as daily benchmarks for authorized dealers to revalue their foreign exchange portfolios, reflecting current market dynamics and expectations.
