The British Pound continued to command a significant premium in the Pakistani currency market. In the interbank market, the GBP was priced at a buying rate of Rs. 376.84 and a selling rate of Rs. 377.51. The open market experienced more movement, with the buying rate standing at Rs. 377.55 and the selling rate reaching Rs. 381.64.
The high value of the Pound was a double-edged sword for the Pakistani economy. For the textile sector, which considers the UK a primary destination for apparel and home linens, a stronger Pound meant higher export earnings in rupee terms.
Conversely, for the thousands of Pakistani students enrolled in British universities, the elevated rate increased the burden of tuition fees and living expenses. This currency dynamic underscored the need for Pakistan to diversify its export basket to maximize the benefits of a high-value Sterling.
