NBP releases latest foreign exchange rates

KARACHI: The National Bank of Pakistan (NBP) released its latest foreign exchange rates on Tuesday through its treasury management division, providing an overview of the day’s benchmark currency valuations for trading and financial activity.

According to the bank, these rates act as a reference for open market dealings, reflecting real-time foreign exchange trends and helping businesses, investors, and individuals make informed decisions in currency-related transactions.

The US dollar remained steady in Tuesday’s trading, with the NBP quoting a selling rate of Rs281.45 and a buying rate of Rs280.95. Among major currencies, the euro was sold at Rs327.46 and bought at Rs326.87, while the British pound stood at Rs376.93 for selling and Rs376.26 for buying.

The Japanese yen was quoted at Rs1.8633 for selling and Rs1.8600 for buying, while the Swiss franc traded at Rs354.81 and Rs354.18, respectively. The Canadian dollar was listed at Rs200.30 for selling and Rs199.95 for buying, and the Australian dollar was quoted at Rs183.00 and Rs182.68.

In the Scandinavian group, the Swedish krona traded at Rs29.84 for selling and Rs29.79 for buying, the Norwegian krone at Rs27.95 and Rs27.90, and the Danish krone at Rs43.85 and Rs43.77.

Asian and Gulf currencies show minor movement

Among Asian currencies, the Chinese yuan was quoted at Rs39.53 for selling and Rs39.46 for buying, while the Hong Kong dollar traded at Rs36.24 and Rs36.17. The Singapore dollar stood at Rs217.37 for selling and Rs216.99 for buying, whereas the Korean won was priced at Rs0.1974 and Rs0.1971.

The Malaysian ringgit traded at Rs66.64 for selling and Rs66.52 for buying, and the Thai baht at Rs8.64 and Rs8.62. In the Gulf region, the UAE dirham was listed at Rs76.65 for selling and Rs76.51 for buying, the Saudi riyal at Rs75.05 and Rs74.91, and the Qatari riyal at Rs77.60 and Rs77.46. The Kuwaiti dinar remained the most valued currency, trading at Rs920.25 for selling and Rs918.62 for buying.

Conversion rates for frozen deposits

For frozen foreign currency (FCY) deposits, the conversion rates for Thursday, October 23, were set at Rs281.0421 for the US dollar, Rs377.0179 for the British pound, Rs327.7512 for the euro, and Rs1.8644 for the Japanese yen.

NBP clarified that these rates are not applicable for transactions exceeding 5,000 US dollars or equivalent in other currencies on a cumulative basis. The bank also noted that certain listed currencies, marked with an asterisk, are not available to its customers.

Interbank market

The Pakistani rupee gained slightly against the US dollar in early trade on Tuesday, rising by 0.06 percent in the interbank market. By 10:15am, the currency was trading around Rs280.90, showing an improvement of 17 paisas from the previous session. The State Bank of Pakistan had earlier reported that the rupee closed at Rs281.07 on Monday.