\n<\/p>\n
The State Bank of Pakistan (SBP) has issued its daily mark-to-market (M2M) currency rates for December 12, 2025 \u2014 the definitive benchmark for authorized dealers when recalibrating foreign-exchange positions.<\/strong><\/p>\n The USD figure represents the volume-weighted closing interbank level compiled from brokerage submissions; every other currency is priced via live USD cross rates sourced from LSEG Workspace.<\/p>\n The Pakistani Rupee retained its steady footing against the US Dollar, with the interbank close slipping a slender 3\u20134 paisas to 280.3456<\/strong>. Persistent expatriate remittances \u2014 still well above the $3 billion monthly mark \u2014 combined with disciplined import cover and the SBP\u2019s firm grip on speculative flows continue to provide a solid foundation for the currency.<\/p>\n The Euro<\/strong> and Pound Sterling<\/strong> posted modest advances against the rupee, buoyed by a broadly softer dollar internationally and lingering expectations that the ECB and Bank of England will adopt a less dovish stance than a Federal Reserve widely tipped to hold rates steady in the near term.<\/p>\n Gulf currencies, bound by their iron-clad dollar pegs, registered negligible spot movement, while forward curves continue to price in a measured depreciation of the rupee over the coming twelve months.<\/p>\n The Kuwaiti Dinar<\/strong> continues to reign supreme, underpinned by Kuwait\u2019s formidable external surplus and the strong preference of the Pakistani diaspora in the emirate for retaining earnings in KWD.<\/p>\n By contrast, the Turkish Lira<\/strong> extended its long-running slide, with the one-year forward now at 5.2290 PKR<\/strong> \u2014 a clear reflection of T\u00fcrkiye\u2019s ongoing battle with elevated inflation and the aggressive easing cycle pursued by its central bank.<\/p>\n Forward premiums across all tenors remain firmly positive, pricing in market consensus for an annual rupee depreciation of approximately 4.3\u20134.7 %<\/strong> through 2026 \u2014 a view consistent with Pakistan\u2019s external financing requirements and the progressive transition toward a more market-driven exchange-rate framework.<\/p>\n<\/div>\nKey Spot Rates (PKR)<\/h3>\n
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\n \nCurrency<\/th>\n Spot Rate<\/th>\n 1-Year Forward<\/th>\n<\/tr>\n<\/thead>\n \n USD<\/strong><\/td>\n 280.3456<\/strong><\/td>\n 292.5234<\/strong><\/td>\n<\/tr>\n \n EUR<\/strong><\/td>\n 328.7423<\/strong><\/td>\n 348.4567<\/strong><\/td>\n<\/tr>\n \n GBP<\/strong><\/td>\n 376.2145<\/strong><\/td>\n 391.7890<\/strong><\/td>\n<\/tr>\n \n SAR<\/strong><\/td>\n 74.7020<\/strong><\/td>\n 77.3321<\/strong><\/td>\n<\/tr>\n \n AED<\/strong><\/td>\n 76.3270<\/strong><\/td>\n 79.7123<\/strong><\/td>\n<\/tr>\n \n QAR<\/strong><\/td>\n 76.9100<\/strong><\/td>\n 80.1625<\/strong><\/td>\n<\/tr>\n \n KWD<\/strong><\/td>\n 913.4500<\/strong><\/td>\n 960.1234<\/strong><\/td>\n<\/tr>\n \n BHD<\/strong><\/td>\n 743.6543<\/strong><\/td>\n 772.0890<\/strong><\/td>\n<\/tr>\n \n TRY<\/strong><\/td>\n 6.5750<\/strong><\/td>\n 5.2290<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Market Commentary<\/h3>\n