KARACHI/ISLAMABAD: The State Bank of Pakistan (SBP) Tuesday report of currency rates for mark-to-market revaluation indicates a stable spot rate for the US Dollar, while forward market indicators suggest a gradual depreciation of the Rupee over the coming year.
USD inched up in the forward market to Rs 277.88 in the case of one week up to a figure of Rs 291.95 in the case of the one- year forward to denote the pressure on the local currency in the future, a spokesman from a large private bank stated at condition of anonymity.
For the local residents living abroad, as well as the local businessmen and importers, the exchange rates for the Gulf currencies also represented an important status, given the role that such currencies play, both for remittances, as well as for trade import transactions.
Saudi Riyal (SAR) came out as most traded (or widely held currency at Rs 73.9154 for the Ready or spot rate).
UAE Dirham (AED) was quoted a slight above at Rs 75.5637 , Qatari Riyal (QAR) being listed a close Rs 76.1171. The most desired and the most valuable in its kind۔
Kuwaiti Dinar (KWD) continues to hold the commanding position with as much as Rs 904.4249
Similar trend was reflected for Bahraini Dinar (BHD) being quoted at Rs 736.0859 as it continued to be above the Greenback and majority of other currencies in terms of value.
The most commonly searched European currency – the European Union’s Single currency, the Euro (EUR), traded atRs 323.5915 with the value in the one year forward expected to inch up toRs 345.03; it follows at a relatively cheaper Rs 323.5915 compared to theBritish Pound Sterling (GBP) which commanded a value of Rs 378.4162 in the spot market and was expected to reach at Rs 397.61 in the case of one-year forward trend.
Other Currency Ready Rates
- Japanese Yen (JPY) – 1.7403
- Swiss Franc (CHF) – 345.2635
- Australian Dollar (AUD) – 198.2345
- Canadian Dollar (CAD) – 200.2257
- Swedish Krona (SEK) – 29.1633
- Norwegian Krone (NOK) – 29.7834
- Danish Krone (DKK) – 43.2862
- Singapore Dollar (SGD) – 218.2898
- New Zealand Dollar (NZD) – 165.1677
- Malaysian Ringgit (MYR) – 68.5750
- Hong Kong Dollar (HKD) – 35.4053
- Indian Rupee (INR) – 2.8999
- South African Rand (ZAR) – 17.3143
- Omani Rial (OMR) – 720.8664
- Bangladeshi Taka (BDT) – 2.2554
- Brazilian Real (BRL) – 53.7861
- Argentine Peso (ARS) – 0.1839
- Chinese Yuan (CNY) – 41.2787
- Sri Lankan Rupee (LKR) – 0.8452
- Thai Baht (THB) – 8.4649
- Turkish Lira (TRY) – 5.7697
- Indonesian Rupiah (IDR) – 0.0157
- Mexican Peso (MXN) – 16.3615
- Russian Ruble (RUB) – 3.2878
- South Korean Won (KRW) – 0.2002
- Chinese Yuan Offshore (CNH) – 41.2802
- Kazakhstani Tenge (KZT) – 0.6051
