The State Bank of Pakistan (SBP) has published the latest mark-to-market (M2M) currency rates for US Dollar (USD) and other major international currencies against the Pakistani Rupee (PKR) on October 29, 2025.
These forex rates, essential for authorized foreign exchange dealers to revalue their books daily, are based on the weighted average of the closing interbank exchange rate for the US Dollar (USD) from brokerage houses, with other currencies’ rates derived from USD/PKR data and their USD exchange rates on LSEG Workspace.
The US Dollar (USD) showed slight depreciation, trading at 280.9594 PKR in the spot market, with forward rates progressing to 293.2455 PKR for the one-year tenor. The Saudi Riyal (SAR) held steady at 74.9205 PKR for the spot rate, with its one-year forward at 77.5761 PKR. The United Arab Emirates Dirham (AED) was at 76.4921 PKR, rising to 79.9274 PKR over one year. The Qatari Riyal (QAR) opened at 77.0788 PKR in the spot market, climbing to 80.4158 PKR for the one-year tenor.
The Kuwaiti Dinar (KWD) remained a powerhouse at 915.8634 PKR for the spot rate, with a one-year forward of 963.2926 PKR, highlighting sustained demand. The Euro (EUR) dipped to 326.7136 PKR in the spot market, with forward rates reaching 346.5842 PKR for one year. The Bahraini Dinar (BHD) stood at 745.2998 PKR, advancing to 774.1444 PKR in the one-year tenor. The British Pound (GBP) traded at 371.1755 PKR, with its one-year forward rate at 386.8570 PKR, reflecting consistent forward premium growth.
Analysts attribute the USD’s minor softening and the EUR’s slight decline to global economic fluctuations, while steady remittance inflows continue to support the PKR. Gulf currencies maintain their resilience, underpinned by stable regional economic conditions. The forward premiums suggest a cautious outlook for the PKR, with potential influences from global monetary policies, particularly from the US Federal Reserve.
Other currencies’ spot rates included: Japanese Yen (JPY) at 1.8445 PKR, Swiss Franc (CHF) at 352.5212 PKR, Australian Dollar (AUD) at 185.6439 PKR, Canadian Dollar (CAD) at 201.5419 PKR, Swedish Krona (SEK) at 29.9648 PKR, Norwegian Krone (NOK) at 28.0756 PKR, Danish Krone (DKK) at 43.7448 PKR, Singapore Dollar (SGD) at 216.932, New Zealand Dollar (NZD) at 162.5210 PKR, Malaysian Ringgit (MYR) at 67.0228 PKR, Hong Kong Dollar (HKD) at 36.1570 PKR, Indian Rupee (INR) at 3.1843 PKR, South African Rand (ZAR) at 16.4124 PKR, Omani Riyal (OMR) at 729.7363 PKR, Bangladeshi Taka (BDT) at 2.2982 PKR, Brazilian Real (BRL) at 52.4325 PKR, Argentine Peso (ARS) at 0.1907 PKR, Russian Rubles (RUB) at 3.5425 PKR, South Korean Won (KRW) at 0.1964 PKR, and Offshore Chinese Yuan (CNH) at 39.5787 PKR. Notably, BDT, BRL, and ARS lacked forward rates beyond the spot market.
