\n<\/p>\n
KARACHI\/ISLAMABAD: The National Bank of Pakistan\u2019s Exchange Rates report for August 31, 2026 shows that Pakistani rupee (PKR) remained flat against dollar as the month ends.<\/strong><\/p>\n USD is sitting steady at 277.6036 levels in interbank market since August 19\u2013a stillness which stretched for 12 sessions\u2013without showing any volatility. Saudi Riyal was up a paisa at 73.9389 levels<\/strong>, which may be termed as flat, while the UAE Dirham stays put at 75.5857<\/strong>.<\/p>\n The local bank\u2019s own exchange rate sheet for August 31 quotes the dollar at 277.90 for selling on TT and 277.40 for buying, a spread of 50 paisas at normal bank rates.<\/p>\n However, its forward quotes reflect a fall in dollar even at these levels (276.06 sight\/15 days), (274.55 on one month, (264.14 six months), which shows a contrary view to the SBP\u2019s forward currency movement.<\/p>\n The NBP forward curve has been signaling gradual dollar strengthening. Currently the dollar is valued at 279.3551 on a one-month forward basis, indicating a likely slide of about 75 paisa in the next 30 days; while the dollar quotes will rise to 281.9640 on three-month forward, 284.6189 on six months and 292.0418 on a one-year forward basis, an annual 5.2 percent depreciation of the local currency from present spot levels\u2013a trajectory which hasn\u2019t shown any deviation over the past couple of months.<\/p>\n But for the remittance families in Punjab, KP and AJK, Riyal and Dirham counts at official level and NBP selling rate quoted them at 74.02 Riyal and 75.67 Dirham respectively and buyer\u2019s selling rate 73.89 Riyal and 75.53 Dirham. So a worker sending 1000 Riyal home will be receiving 73890 rupees if he banks at buying rate and in the case of Dirhams he will be credited 75530 rupees. Even these values haven\u2019t shown much fluctuation on spot basis over the whole of August. The dollar to rupee traded in a band of less than 51 paisas in almost 60 sessions-a level that could provide enough predictability for millions of Pakistanis dependent on remittances from Gulf without fearing sharp volatility shock upon realizing returns of dollar money.<\/p>\n Pound sterling climbed at 376.40<\/strong> against selling on TT and 375.72 on TT compared to mid-August level of 376.25 while the forward for one year stood at 395.2779 per pound, suggesting an average depreciation rate of approximately 5.1 percent annually from the present spot. Those sending children for higher studies at the UK can see expenses escalating to Rs. 5.65 million for fee of 15,000 per year compared to Rs. 5.64 million mid-August; this is squeezing even for many middle-class families considering British Education the only alternative from the native country.<\/p>\n Canadian Dollar zoomed at 200.06 for selling on TT and 199.70 for TT compared to 190.47 of August 19 indicating rise of over a dozen paisas per dollar in just over a week<\/strong>. Pakistani importers of lentils, dry and agricultural food products may witness rising import bill whereas, with the price of dollars on forward contract (1 year), at 213.6667 implies larger depreciation prospects of rupee in relation to Canadian Dollar on account of consistent local demand for the Canadian food products possibly sustained till the end of the present year while, the depreciations\u2019 graph also show steeper rise for the Canadian dollar compared to that of US dollars and Australian dollars as well, suggesting an intensified rivalry and competitiveness between them.<\/p>\n Australian Dollar quoted at 199.20<\/strong> (TT selling) and 198.84 (TT buying), is one of the vital currencies for Australian wool importers, educational providers and agriculture sector stakeholders engaged with Pakistan. For the European trade and Pakistani textile exporters and leather industry players involved, a spot value of 322.10 (Euro selling) and 321.52 (buying) sets a benchmark on competitiveness-its annual forward estimation, a steeper one than US dollars but lesser compared to Canadians, is set to be at 343.2396 a year representing a 6.6 percent depreciation of rupee against Euros.<\/p>\n The Japanese Yen at 1.7390 (selling), 1.7358 (buying), affects the parts market for auto assembly industry based in Pakistan, whereas the Swiss Franc at 343.55 (selling), 342.94 (buying) reflects Switzerland\u2019s consistent resilience in comparison to the local economy.<\/em><\/strong><\/p>\n Swedish Krona at 28.93 (selling) and 28.88 (buying), Norwegian Krone at 29.72 (selling) and 29.66 (buying), Danish Krone at 43.09 (selling) and 43.01 (buying), continue to mimic their home economies, similarly, a 1.7390 for the Japanese Yen on selling and 1.7358 on TT-buying can affect import for the local auto sector, New Zealand Dollars are set to remain stable at 164.53 (selling), 164.23 (buying) levels, Singapore Dollar at 218.34 (selling) and 217.94 (buying) too, while, Hong Kong Dollars remain unchanged at 35.45 (selling) and 35.39 (buying) levels.<\/em><\/strong><\/p>\n Other Asian exchanges such as Korean Won at 0.2024 (selling), 0.2021 (buying), Chinese Yuan at 41.34 (selling) and 41.27 (buying), Malaysian Ringgit at 69.05 (selling), 68.93 (buying) and Thai Baht at 8.39 (selling), 8.37 (buying) are showing some up and down movement along with fluctuating movements in dollar. Meanwhile, Qatar Riyal at 76.30 (selling), 76.17 (buying), Kuwaiti Dinar at 904.92 (selling), 903.29 (buying) mirrors dollar closely due to currency pegs.<\/p>\n Cash dollar is quoted at 279.29 while it is bought at 276.29\u2013a spread of Rs. 3 across cash and TT buyers that is the norm for handing physical money. Similar is the case with pound (378.28 selling, 373.79 buying), euro (323.71 selling, 319.91 buying) and Yen (1.7477 selling, 1.7270 buying). Saudi Riyal cash value is expected at 74.39 for selling and 73.51 for buying while the UAE Dirham could be quoted at 76.05 selling and 75.15 buying rates.<\/p>\n Forward contracts also look stable on short and long terms. While one week is priced 45 paisa over the spot and 2 weeks forward indicates 76 paisa over the spot, it is safe to conclude that the market has discounted a near future no volatility shocks\u2013backed by the SBP\u2019s reserve and policy rate. The spot values will be determined by dollar\u2019s relation to Saudi Riyal, Dirham, Qatari Riyal etc with some margins\u2013they largely mirror dollar\u2019s movement and do not appear to show any adverse trend against rupee.<\/p>\n<\/div>\n