Karachi – The British Pound is demonstrating its characteristic volatility but remains a high-value currency in the local market. The interbank market is reporting a buying rate of Rs. 374.45 and a selling rate of Rs. 375.12. In the open market, the British currency is being sought at a buying rate of Rs. 375.65 and sold at Rs. 380.74.
The value of the Pound is of strategic importance for Pakistan’s export sector, particularly for textiles and garments, as the United Kingdom remains one of Pakistan’s largest export destinations in Europe. A stronger Pound generally makes Pakistani exports more competitive in the British market, potentially boosting export earnings.
Furthermore, the exchange rate is a key variable for the IT and services sector, where many Pakistani firms provide offshore services to UK-based clients.
The current rates are helping these service exporters bring home higher Rupee earnings, thereby supporting job creation and technological investment within the domestic economy.
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