Karachi, May 04, 2026 – The State Bank of Pakistan (SBP) has released its latest Mark-to-Market (M2M) exchange rates for authorized dealers, offering updated reference rates for foreign currency transactions against the Pakistani Rupee (PKR). These rates serve as critical benchmarks for traders, importers, exporters, and remittance senders navigating the country’s foreign exchange market.
The US Dollar (USD), Pakistan’s most traded foreign currency, is quoted at PKR 278.76 for same-day settlements. Forward premiums remain modest, with the 1-year rate projected at PKR 291.17, reflecting measured expectations of rupee depreciation. The USD/PKR rate is a cornerstone for international trade, remittance inflows, and debt servicing. For every $100, you’ll need PKR 27,876 for same-day transactions—a rate impacting everything from imported electronics to fuel prices and overseas expenses.
The British Pound (GBP) commands a premium, trading at PKR 378.01 for ready transactions, with forward rates reaching PKR 392.99 for 1-year contracts. This rate is vital for UK-bound remittances and bilateral trade. The Kuwaiti Dinar (KWD) remains the highest-valued currency against the PKR at PKR 910.09, directly affecting remittance inflows from Gulf workers—every 1,000 KWD sent home equals approximately PKR 910,090.
Other key rates include the Qatari Riyal (QAR) at PKR 76.48, Bahraini Dinar (BHD) at PKR 738.24, and Canadian Dollar (CAD) at PKR 204.86. The CAD rate is increasingly relevant for students and immigrants, as Canadian tuition fees of CAD 20,000 require about PKR 4.10 million. Forward rates for all currencies indicate gradual appreciation expectations, aligning with regional trends.
These rates are essential for planning transactions, from study abroad expenses to family remittances. For more information on currency markets, visit Reuters Currency Markets or BBC Business. To understand Pakistan’s exchange rate system, refer to Wikipedia: Pakistani Rupee.
Source: ARY News