Karachi: Pakistan’s foreign exchange market is witnessing continuous activity as the rupee is trading mixed against major international currencies. Economic transactions related to imports, overseas employment and education are keeping foreign currencies in steady demand, while the rupee is adjusting gradually during daily trading.
The dollar is leading the market and is exchanging at Rs. 280.55 for buying and Rs. 282.25 for selling. Payments for petroleum products, machinery and raw materials are increasing reliance on the US currency. As these payments are continuing, the rupee is remaining under mild pressure.
The pound sterling is also strengthening and is trading between Rs. 381.33 and Rs. 385.09. Families and students are continuing to send funds to the UK, and the currency is maintaining its premium value. The steady demand is keeping the pound firm throughout the session.
Among Middle Eastern currencies, the Saudi Riyal and UAE Dirham are staying stable. The riyal is trading at Rs. 74.85 to Rs. 75.30, while the dirham is standing at Rs. 76.45 to Rs. 77.30. Regular remittances are supporting the rupee and helping sustain foreign exchange reserves.
The Omani Riyal is remaining one of the highest-priced currencies and is moving between Rs. 727.70 and Rs. 737.21. Similarly, the Canadian Dollar is trading at Rs. 204.03 for buying and Rs. 207.54 for selling, driven by education and migration-related transfers.
With remittances continuing and trade activity remaining active, the rupee is moving steadily while the market is maintaining overall balance.
