Karachi, April 15, 2026 – The State Bank of Pakistan (SBP) has issued its updated Mark-to-Market (M2M) exchange rates for authorized dealers, providing the latest reference points for foreign currency dealings against the Pakistani Rupee (PKR). This detailed overview highlights key currency values relevant to traders, importers, exporters, and remittance recipients.
The US Dollar (USD), Pakistan’s most widely traded foreign currency, is quoted at PKR 278.96 for same-day settlements. Forward contracts show modest premiums, with the 1-year forward rate projected at PKR 289.91, indicating market expectations of gradual rupee depreciation in the upcoming months. The USD/PKR rate remains a crucial benchmark impacting international trade, remittances, and servicing of foreign debt.
For practical purposes, each $100 transaction requires PKR 27,896 today, influencing prices of imported goods, fuel, overseas education, and medical expenses.
Meanwhile, the British Pound (GBP) maintains a strong position, trading at PKR 377.57 on a ready basis. Forward rates continue an upward trajectory, with the 1-year rate at PKR 390.86. This movement is particularly significant for UK-bound remittances and bilateral trade, affecting Pakistani expatriates and importers dealing with British products and services.
To illustrate, £100 converts to roughly PKR 37,757 at the current ready rate, an important figure for planning tuition fees or family support transfers.
In a significant development, the Kuwaiti Dinar (KWD) remains the highest-valued currency against the PKR, quoted at PKR 910.69 for immediate settlement. Given the large Pakistani workforce in Gulf Cooperation Council countries, especially Kuwait, this rate directly impacts remittance inflows. Forward rates suggest a gradual appreciation, with a 1-year rate of PKR 954.65, reflecting sustained demand for Gulf currencies.
For remitters, sending 1,000 KWD translates to about PKR 910,690, underscoring the importance of timely transfers to maximize value for families.
The Qatari Riyal (QAR) is priced at PKR 76.52 for same-day transactions. With a substantial Pakistani labor presence in Qatar’s energy, construction, and services sectors, this rate is closely monitored for remittances and trade. Forward pricing remains stable, with the 12-month rate at PKR 79.46, indicating limited volatility among Gulf currencies.
The Bahraini Dinar (BHD) holds firm at PKR 739.40 for ready dealings. As another key Gulf currency for Pakistani expatriates, the BHD/PKR rate influences cross-border remittances and trade settlements with Bahrain. Forward curves project moderate appreciation, with the 1-year rate at PKR 766.86, aligning with regional currency trends.
The Canadian Dollar (CAD) is trading at PKR 202.44 for immediate settlement. 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 213.35.
Students should note that Canadian tuition fees of CAD 20,000 would currently require approximately PKR 4.05 million, highlighting the need for careful forex planning.
Other currencies actively quoted in Pakistan’s forex market today include the Euro (EUR) at PKR 328.72 and the Japanese Yen (JPY) at PKR 1.75. Gulf currencies such as the UAE Dirham (AED) stand at PKR 75.96, Saudi Riyal (SAR) at PKR 74.34, and Omani Rial (OMR) at PKR 724.66. Asian currencies include the Chinese Yuan (CNY) at PKR 40.95, Malaysian Ringgit (MYR) at PKR 70.55, Indian Rupee (INR) at PKR 2.99, Sri Lankan Rupee (LKR) at PKR 0.88, and Bangladeshi Taka (BDT) at PKR 2.27. Other notable rates are the Australian Dollar (AUD) at PKR 198.07, Swiss Franc (CHF) at PKR 357.06, Singapore Dollar (SGD) at PKR 219.27, New Zealand Dollar (NZD) at PKR 164.28, and South African Rand (ZAR) at PKR 17.06. European currencies include the Swedish Krona (SEK) at PKR 30.41, Norwegian Krone (NOK) at PKR 29.54, and Danish Krone (DKK) at PKR 43.98. Emerging market currencies are represented by the Brazilian Real (BRL) at PKR 55.91, Turkish Lira (TRY) at PKR 6.24, Indonesian Rupiah (IDR) at PKR 0.016, Mexican Peso (MXN) at PKR 16.16, Russian Ruble (RUB) at PKR 3.67, 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) trades at PKR 8.71. The Argentine Peso (ARS) shows limited forward liquidity, with a ready rate of PKR 0.21.
Mid-week market analysis comparing April 15 with the previous business day, April 14, 2026, reveals marginal changes: the USD/PKR rate slightly depreciated to 278.96 from 278.97, essentially stable; the GBP/PKR edged up to 377.57 from 377.44, maintaining sterling’s strength; the KWD/PKR increased slightly to 910.69 from 910.63, indicating Gulf currencies’ resilience; and the EUR/PKR rose to 328.72 from 328.52, reflecting gradual euro appreciation.
The Pakistani Rupee showed relative stability mid-week, with the USD/PKR rate hovering near 279 for the third consecutive session. European currencies continued to strengthen against the PKR, mirroring broader global forex trends. Market participants remain attentive to regional economic data and shifts in global risk sentiment for future directional signals.
