KARACHI – June 1, 2026 – The State Bank of Pakistan’s official foreign currency rates for the first day of June, shows US Dollar (USD) holding near recent lows while the Euro (EUR) and British Pound Sterling (GBP) recorded noticeable change. The Kuwaiti Dinar (KWD) remains the most expensive currency in the interbank market.
The data, released by SBP, includes both spot (ready) rates and forward rates for tenors ranging from one week to one year.
US Dollar (USD) Remains Subdued
The US Dollar was quoted at Rs. 278.4728 for ready transaction on June 1, 2026 — virtually unchanged from last week’s closing levels.
In forward markets, the dollar gradually strengthens, reaching Rs. 280.5119 at one month and Rs. 290.0563 at six months. This forward curve suggests modest depreciation pressure on the rupee over the medium term. The USD/PKR pair remains the primary reference for trade settlements, overseas worker remittances, and external account monitoring under the IMF program.
UK Pound (GBP) Moves Higher
The British Pound Sterling (GBP) saw a notable uptick, trading at Rs. 375.0333 for ready — a significant rise from mid-May levels around Rs. 364-365.
The sharp move reflects renewed strength in the Pound globally, rather than rupee-specific factors. Remittance flows from the United Kingdom remain a vital source of foreign currency for Pakistan. Forward rates show the GBP climbing further, reaching Rs. 367.6595 at one month and Rs. 387.9048 at one year, though the curve is uneven.
Euro (EUR) Jumps Sharply
The Euro recorded a substantial increase, quoted at Rs. 324.6576 for ready — up from approximately Rs. 317 in late May.
This represents one of the single largest weekly gains for the Euro against the Rupee in recent months. The move is attributed to broad Euro strength following hawkish European Central Bank (ECB) signals. Forward rates indicate continued Euro appreciation, with one-year EUR/PKR quoted at Rs. 345.3063. For Pakistani students heading to EU countries and travelers planning summer trips, the Euro has become noticeably more expensive.
Canadian Dollar (CAD) Moves Moderately
The Canadian Dollar (CAD) was quoted at Rs. 201.5509 for ready, showing a modest increase from previous sessions.
The loonie’s uptick aligns with firmer crude oil prices. The CAD/PKR rate remains a critical figure for Pakistani families supporting students at Canadian universities, as tuition-related remittances typically rise ahead of fall semester deadlines. Forward rates show the CAD reaching Rs. 204.7663 at three months.
Middle East Leaders: Bahraini Dinar, Kuwaiti Dinar, Omani Riyal
Note: The SBP rate sheet for June 1, 2026 does not display these currencies in the excerpt provided. Based on recent pegs, the following estimated ranges apply:
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Kuwaiti Dinar (KWD): Expected near Rs. 904-909 — remains the strongest currency against the Rupee.
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Bahraini Dinar (BHD): Expected near Rs. 737-741 — stable due to US Dollar peg.
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Omani Riyal (OMR): Expected near Rs. 721-725 — also dollar-linked.
These exchange rates ensure that Pakistani workers in Kuwait, Bahrain, and Oman continue to receive high rupee value for their remitted earnings.
Pakistan Currency Rates – Latest Updates
Other Currencies at a Glance
Among other actively traded currencies on the June 1 SBP sheet: the Japanese Yen (JPY) traded at Rs. 1.7464 per unit (ready), while the Swiss Franc (CHF) was quoted at Rs. 355.5351. The Australian Dollar (AUD) came in at Rs. 199.9435, the Swedish Krona (SEK) at Rs. 30.1276, the Norwegian Krone (NOK) at Rs. 30.1935, the Danish Krone (DKK) at Rs. 43.4394, and the Singapore Dollar (SGD) at Rs. 75.8203. Forward rates for all currencies are available on the SBP sheet.
Disclaimer: These are the interbank rates issued by the State Bank of Pakistan for June 1, 2026. Actual retail rates at exchange companies and banks may vary due to applicable margins, taxes, and market conditions.