Step into a currency exchange shop in Karachi’s Saddar or Lahore’s Liberty Market and the scene is almost identical. The ceiling fan groans, an old calculator clicks, and men lean on the counter asking, “Dollar kidhar jaa raha hai aaj?” For shopkeepers importing electronics or parents wiring fees abroad, the answer sets the mood of the day.
Currency exchange rates in Pakistan are more than board numbers. They shape bills, rent negotiations, even what ends up in a shopper’s bag. Today’s update again brings the US Dollar, Euro, Pound, Dirham, Canadian Dollar, and Australian Dollar into sharp focus. The Indian Rupee and Bangladeshi Taka might not dominate the boards, but they sit quietly in the background of regional trade.
Latest Open Market Rates in Pakistan
Today’s open market rates painted a picture that was familiar yet tense. Buyers queued up early, some carrying wads of rupees wrapped in rubber bands, others clutching passports before flying to Dubai or London. Sellers at the counters shook their heads at complaints, pointing to the chalkboard as if to say, “Not my fault, that’s today’s rate.”
Rates today stood as follows:
- US Dollar (USD): Buying PKR 282.30, Selling PKR 283.10
- Euro (EUR): Buying PKR 328.50, Selling PKR 330.30
- British Pound (GBP): Buying PKR 378.80, Selling PKR 380.80
- UAE Dirham (AED): Buying PKR 76.85, Selling PKR 77.10
- Canadian Dollar (CAD): Buying PKR 204.00, Selling PKR 209.00
- Australian Dollar (AUD): Buying PKR 184.00, Selling PKR 189.00
- Saudi Riyal (SAR): Buying PKR 75.15, Selling PKR 75.40
A rupee here, a rupee there, it sounds minor. But ask the man clearing containers at Port Qasim, and he’ll tell you the difference means a week’s salary for his staff.
Interbank vs. Open Market Rates
Behind the counters and chalkboards is the calmer, quieter interbank system. Screens flash numbers inside banks, deals close with a click, and no one shouts. The interbank rate is where government and corporate flows move, not where a traveler gets cash for a ticket to London.
Still, the gap between interbank and open market makes people suspicious. Traders keep one eye on official figures and the other on the shop board outside. Here’s what the comparison looked like today:
| Currency | Interbank Rate (PKR) | Open Market Rate (PKR) |
| USD | 283.75 | 283.1 |
| EUR | 332.42 | 330.3 |
| GBP | 383.21 | 380.8 |
| INR | 3.22 | — |
| CAD | 205.1 | 209 |
| AUD | 186.1 | 189 |
The gap is not massive, but it sparks chatter. Importers mutter about being squeezed twice, once by suppliers abroad, and again by the rate spread at home.
Factors Influencing Exchange Rates Today
Every fluctuation has a backstory. Sometimes global, sometimes painfully local.
Dollar Demand and Supply
Imports drive the hunger for dollars. Petrol, wheat, mobile phones, medicines, all of it needs greenbacks. When supply at counters thins, selling rates climb. The shopkeeper in Rawalpindi who sells imported car parts feels it straight away.
Remittance Inflows
Every month, families in Gujrat and Multan line up for money sent from Dubai, Riyadh, or London. When these remittances arrive through banks, the rupee steadies. When they slow or move through informal routes, shortages appear and rates jump.
Global Oil Prices
Crude oil prices abroad ripple into the Pakistani market faster than people expect. A rise in Brent crude means the State Bank has to pay more dollars, and soon after, the open market reflects that strain. Petrol pumps adjust soon after.
Inflation and Policy Choices
High inflation leaves the rupee fragile. Add the central bank’s interest rate decisions to the mix, and the market swings. A single policy statement can change the mood of dealers by afternoon.
Regional Currencies
The Indian Rupee and Bangladeshi Taka don’t hit headlines daily, but they matter in border exchanges and small-scale trade. A truck driver at Wagah or a traveler heading into Sylhet feels it immediately when the rate shifts.
Impact on Importers, Exporters and General Public
For importers, today’s rates mean recalculating invoices and adjusting prices upward. The electronics dealer in Hall Road, Lahore, knows a dollar increase adds directly to the cost of a mobile phone on his shelf. Exporters of textiles in Faisalabad, on the other hand, sometimes benefit when the rupee weakens, as their overseas payments bring in more local currency.
For the public, the impact is everywhere but rarely labeled “currency.” Cooking oil jumps in price, petrol bills climb, and the cost of school fees abroad seems to grow each semester. A man filling his motorcycle tank doesn’t quote the dollar rate, but he curses it indirectly.
Remittance receivers sometimes breathe easier when the dollar rises. A son in Sharjah sends the same amount, yet the family in Sialkot gets more rupees. Still, the relief is temporary. A stronger dollar also makes daily expenses swell.
Currency Converter and Daily Monitoring
Not long ago, only businessmen checked rates daily. Now, even families with small transfers watch their phones for updates. Apps buzz with numbers, but the final word still comes from the chalkboard at the exchange shop. The chalk smudges under humidity, rubbed off and rewritten as rates shift during the day.
People walk from one counter to another, haggling for half a rupee difference. It might sound petty, but when paying tuition in Euros or buying pounds for a visa fee, it adds up. Daily monitoring is no longer optional. It’s part of the routine, like buying groceries or paying the electricity bill.