The State Bank of Pakistan’s official foreign currency rates for June 9, 2026, show the US Dollar edging slightly lower against the Pakistani Rupee, while the Kuwaiti Dinar remains the strongest currency in the interbank market.
US Dollar (USD) Inches Down
The US Dollar was quoted at Rs. 278.3731 for ready transactions, a marginal decline from Rs. 278.4728 on June 1. In forward markets, the dollar shows a gradual ascent, reaching Rs. 280.1291 at one month and Rs. 291.3807 at one year, suggesting anticipated but modest rupee depreciation. The USD/PKR pair remains a central benchmark for trade finance and remittances under Pakistan’s IMF arrangement.
UK Pound (GBP) and Euro (EUR) Decline
The British Pound fell to Rs. 371.1013, down from Rs. 375.0333 on June 1, reflecting global Sterling weakness. The Euro dropped sharply to Rs. 321.1451 from Rs. 324.6576, driven by profit-taking and shifting ECB expectations. Forward rates for both currencies indicate a gradual recovery over the next year.
Gulf Currencies Remain Strong
The Kuwaiti Dinar held firm at Rs. 906.0150, the highest among all currencies. The Saudi Riyal was recorded at Rs. 74.1498, while the Omani Riyal and Bahraini Dinar are expected near Rs. 722-726 and Rs. 738-742 respectively, based on their US Dollar peg. These rates directly impact remittance values for millions of Pakistani expatriates in the Gulf region.
Other Major Currencies
The Canadian Dollar slipped to Rs. 199.6723 amid softer crude oil prices, while the Japanese Yen traded at Rs. 1.7375 per unit. The Swiss Franc stood at Rs. 349.1886, the Australian Dollar at Rs. 196.1974, and the Singapore Dollar at Rs. 216.2961. For more details, refer to the SBP’s official rate sheet.
The slight depreciation in the US Dollar and other major currencies offers some relief for importers and travelers, but the stability of Gulf currencies underscores their importance for Pakistan’s remittance inflows. Analysts suggest that forward rates indicate a managed depreciation path, consistent with the central bank’s policy under the IMF program.
Source: ARY News