The State Bank of Pakistan (SBP) released its latest mark-to-market revaluation rates on Tuesday, June 2, 2026, showing the US Dollar at 278.4634 PKR for spot transactions, remaining within the familiar 278-280 band that has characterized interbank trading throughout 2026. The marginal softening from mid-May levels suggests measured central bank guidance aimed at preventing excessive volatility while preserving foreign exchange reserves. The one-year forward rate of 292.1822 PKR indicates markets are pricing in gradual rupee depreciation over the next twelve months.
The Saudi Riyal is quoted at 74.1995 PKR, a critical rate for Pakistan’s largest overseas workforce in Saudi Arabia. The peg to the US dollar ensures the riyal moves in step with greenback fluctuations, offering stability for millions of families relying on remittances from Riyadh, Jeddah, and Dammam. Similarly, the UAE Dirham stands at 75.8208 PKR, reflecting its rigid dollar peg, crucial for workers in Dubai, Abu Dhabi, and the northern emirates.
The Qatari Riyal trades at 76.3907 PKR, impacting the Pakistani community in Qatar’s infrastructure sector and businesses involved in LNG trade. The Kuwaiti Dinar retains its status as the highest-valued currency at 907.6382 PKR, backed by hydrocarbon wealth. Among other major currencies, the Euro is at 324.4098 PKR, the British Pound at 375.1876 PKR, and the Indian Rupee at 2.9244 PKR.
The Australian Dollar stands at 200.0342 PKR, sensitive to commodity prices and relevant for Pakistani students in Australia. The Canadian Dollar at 201.1946 PKR influences remittances from Canada. The Chinese Yuan quotes at 41.1782 PKR, reflecting growing trade ties. The SBP’s circular also includes rates for the Malaysian Ringgit, Singapore Dollar, and other GCC currencies, providing a comprehensive reference for businesses and expatriates.
These rates serve as benchmarks for market participants, with the central bank’s measured approach aiming to stabilize the rupee amid global economic uncertainties.
Source: ARY News