The State Bank of Pakistan (SBP) has published the latest mark-to-market (M2M) currency rates for major international currencies against the Pakistani Rupee (PKR) on October 24, 2025.
These 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 281.0155 PKR in the spot market, with forward rates progressing to 293.3540 PKR for the one-year tenor. The Saudi Riyal (SAR) held steady at 74.9335 PKR for the spot rate, with its one-year forward at 77.5946 PKR. The United Arab Emirates Dirham (AED) was at 76.5084 PKR, rising to 79.9547 PKR over one year. The Qatari Riyal (QAR) opened at 77.0962 PKR in the spot market, climbing to 80.4436 PKR for the one-year tenor.
The Kuwaiti Dinar (KWD) remained a powerhouse at 916.4046 PKR for the spot rate, with a one-year forward of 962.6211 PKR, highlighting sustained demand. The Euro (EUR) dipped to 326.4276 PKR in the spot market, with forward rates reaching 346.3513 PKR for one year. The Bahraini Dinar (BHD) stood at 745.4486 PKR, advancing to 774.3786 PKR in the one-year tenor. The British Pound (GBP) traded at 374.0597 PKR, with its one-year forward rate at 389.8677 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 1.8383 PKR, Swiss Franc (CHF) at 353.1898 PKR, Australian Dollar (AUD) at 182.6882 PKR, Canadian Dollar (CAD) at 200.5892 PKR, Swedish Krona (SEK) at 29.9422 PKR, Norwegian Krone (NOK) at 28.1111 PKR, Danish Krone (DKK) at 43.7031 PKR, Singapore Dollar (SGD) at 216.2489 PKR, New Zealand Dollar (NZD) at 161.5418 PKR, Malaysian Ringgit (MYR) at 66.5283 PKR, Hong Kong Dollar (HKD) at 36.1653 PKR, Indian Rupee (INR) at 3.2019 PKR, South African Rand (ZAR) at 16.2147 PKR, Omani Riyal (OMR) at 729.8819 PKR, Bangladeshi Taka (BDT) at 2.2935 PKR, Brazilian Real (BRL) at 52.1946 PKR, Argentine Peso (ARS) at 0.1895 PKR, Chinese Yuan (CNY) at 39.4532 PKR, Sri Lankan Rupee (LKR) at 0.9256 PKR, Thai Baht (THB) at 8.5741 PKR, Turkish Lira (TRY) at 6.6819 PKR, Indonesian Rupiah (IDR) at 0.0169 PKR, Mexican Peso (MXN) at 15.2676 PKR, Russian Rubles (RUB) at 3.4604 PKR, South Korean Won (KRW) at 0.1956 PKR, and Offshore Chinese Yuan (CNH) at 39.4383 PKR. Notably, BDT, BRL, and ARS lacked forward rates beyond the spot market.
