Karachi, May 20, 2026 – The State Bank of Pakistan (SBP) has released its latest Mark-to-Market (M2M) exchange rates for authorized dealers, providing updated reference rates for foreign currency transactions against the Pakistani Rupee (PKR). These rates are crucial for traders, importers, exporters, and remittance senders navigating the country’s foreign exchange market.
US Dollar (USD) at PKR 278.56
The US Dollar, Pakistan’s most heavily traded foreign currency, is recorded at PKR 278.56 for same-day settlements. Forward premiums are moderate across tenors, with the 1-year rate estimated at PKR 292.46, signaling market expectations of gradual rupee depreciation. The USD/PKR rate remains the primary benchmark for international trade, remittances, and foreign debt obligations. For every $100, you would need PKR 27,856 for same-day transactions, directly impacting imported electronics, fuel costs, overseas education, and healthcare expenses.
British Pound (GBP) Trades at PKR 372.78
Sterling maintains a substantial premium against the rupee, quoted at PKR 372.78 for ready transactions. Forward markets show consistent upward momentum, with the 1-year rate reaching PKR 390.20. Remittances from the UK and bilateral trade are highly sensitive to this rate, especially for Pakistani expatriates and importers of British goods. For example, £100 equals approximately PKR 37,278 at today’s rate, aiding in planning tuition fees or family remittances.
Kuwaiti Dinar (KWD) Leads at PKR 907.95
The Kuwaiti Dinar remains the highest-valued currency against the PKR, trading at PKR 907.95 on a ready basis. This rate directly affects remittance inflows from Kuwait, where a large Pakistani workforce is employed. Forward rates suggest gradual appreciation, with the 1-year rate at PKR 960.83. Every 1,000 KWD remitted home equals approximately PKR 907,950, making well-timed transfers essential for maximizing value.
Qatari Riyal (QAR) at PKR 76.41
The Qatari Riyal is quoted at PKR 76.41 for same-day settlements. With a significant Pakistani expatriate community in Qatar’s energy and construction sectors, this rate is closely monitored for remittance calculations and cross-border commerce. The 12-month forward rate stands at PKR 79.40, indicating stable expectations.
Bahraini Dinar (BHD) Firm at PKR 738.69
The Bahraini Dinar remains robust at PKR 738.69 for ready transactions. This rate impacts remittances and trade between Pakistan and Bahrain, with the 1-year forward projected at PKR 769.27, consistent with regional trends.
Canadian Dollar (CAD) at PKR 202.31
The Canadian Dollar trades at PKR 202.31 for ready value, increasingly significant for students, immigrants, and businesses. Forward rates indicate moderate upward pressure, with the 1-year contract at PKR 215.27. For instance, Canadian tuition fees of CAD 20,000 would require approximately PKR 4.05 million at current rates.
Other Currencies
The SBP also provides rates for other major currencies, including the Euro (EUR) at PKR 302.45, Saudi Riyal (SAR) at PKR 74.25, UAE Dirham (AED) at PKR 75.80, and Chinese Yuan (CNY) at PKR 38.59, among others. These rates reflect the broad dynamics of Pakistan’s foreign exchange market, influenced by global commodity prices, geopolitical developments, and domestic economic policies.
For more information on exchange rate mechanisms, visit Wikipedia’s guide on exchange rates and Reuters currency markets page. For regional economic context, refer to Al Jazeera’s economy section.
Source: ARY News