Karachi, April 13, 2026 – The State Bank of Pakistan (SBP) has released its most recent Mark-to-Market (M2M) currency rates for authorized dealers, setting fresh reference points for foreign currency dealings against the Pakistani Rupee (PKR). This update is essential for traders, importers, exporters, and those sending remittances abroad.
The US Dollar (USD), Pakistan’s most frequently traded foreign currency, is valued at PKR 278.98 for same-day transactions. Forward premiums for the USD show moderate increases over various tenors, with a 1-year forward rate of PKR 289.75, indicating market expectations of gradual rupee depreciation. This USD/PKR rate remains a critical benchmark for international trade, remittance inflows, and servicing foreign debt.
To put it in perspective, exchanging $100 today requires PKR 27,898, impacting prices of imported goods, fuel, education abroad, and medical expenses.
Meanwhile, the British Pound (GBP) trades at PKR 373.89 for ready transactions, maintaining a strong premium against the rupee. Forward contracts for the pound reach PKR 386.95 for one year, reflecting ongoing demand from Pakistani expatriates in the UK and importers of British products. For example, £100 converts to approximately PKR 37,389, a vital figure for those managing tuition or family support payments.
In a significant development, the Kuwaiti Dinar (KWD) remains the highest-valued currency against the PKR, quoted at PKR 910.28 for ready deals. Given the large Pakistani workforce in the Gulf Cooperation Council countries, particularly Kuwait, this rate directly influences remittance flows. The 1-year forward rate is projected at PKR 952.97, suggesting sustained demand and slight appreciation of Gulf currencies. For Pakistani families, sending 1,000 KWD home equates to about PKR 910,280, emphasizing the importance of timely remittances.
The Qatari Riyal (QAR) is listed at PKR 76.52 for same-day settlements. With a substantial Pakistani labor presence in Qatar’s energy, construction, and service sectors, this rate is closely watched. Forward pricing remains stable, with the 12-month rate at PKR 79.43, indicating limited volatility in the Gulf currency basket.
The Bahraini Dinar (BHD) holds firm at PKR 739.75 for ready transactions. As another key Gulf currency for Pakistani expatriates, the BHD/PKR exchange influences cross-border money transfers and trade with Bahrain. Forward rates suggest a moderate appreciation, with the 1-year projection at PKR 766.25, consistent with regional currency trends.
The Canadian Dollar (CAD) trades at PKR 201.47 for ready value. Stronger educational, immigration, and business connections between Pakistan and Canada make the CAD/PKR rate increasingly relevant for students, families, and small and medium enterprises engaged in bilateral commerce. Forward contracts show moderate upward pressure, with the 1-year rate at PKR 211.98. For students, tuition fees of CAD 20,000 translate to roughly PKR 4.03 million at current rates, underscoring the need for careful forex planning.
Other currencies also play a significant role in Pakistan’s forex market today. The Euro (EUR) is quoted at PKR 325.62, and the Japanese Yen (JPY) at PKR 1.75. Gulf currencies include the UAE Dirham (AED) at PKR 75.95, Saudi Riyal (SAR) at PKR 74.33, and Omani Rial (OMR) at PKR 724.68. Asian currencies such as the Chinese Yuan (CNY) stand at PKR 40.79, Malaysian Ringgit (MYR) at PKR 70.15, Indian Rupee (INR) at PKR 3.01, Sri Lankan Rupee (LKR) at PKR 0.88, and Bangladeshi Taka (BDT) at PKR 2.27. Additional notable rates include the Australian Dollar (AUD) at PKR 196.55, Swiss Franc (CHF) at PKR 352.48, Singapore Dollar (SGD) at PKR 218.65, New Zealand Dollar (NZD) at PKR 162.58, and South African Rand (ZAR) at PKR 16.92. European currencies such as the Swedish Krona (SEK) trade at PKR 29.88, Norwegian Krone (NOK) at PKR 29.28, and Danish Krone (DKK) at PKR 43.58. Emerging market currencies include the Brazilian Real (BRL) at PKR 55.05, Turkish Lira (TRY) at PKR 6.23, Indonesian Rupiah (IDR) at PKR 0.016, Mexican Peso (MXN) at PKR 16.01, Russian Ruble (RUB) at PKR 3.61, 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 35.61, and the Thai Baht (THB) at PKR 8.66. The Argentine Peso (ARS) shows limited forward liquidity with a ready rate of PKR 0.20.
Looking at the market changes since April 10, 2026, the USD/PKR rate shows a slight strengthening of the rupee to 278.98 from 279.01. The GBP/PKR rate has declined marginally to 373.89 from 374.21, reflecting adjustments in the UK market. The Kuwaiti Dinar remains stable at 910.28 compared to 910.31, demonstrating resilience among Gulf currencies. The Euro trades at 325.62, influenced by signals from the European Central Bank.
The Pakistani Rupee started the week with modest gains against the US Dollar, supported by steady remittance inflows and balanced liquidity in the interbank market. Market participants continue to monitor global oil prices and regional geopolitical developments for future direction.
