KARACHI: The State Bank of Pakistan (SBP) has released its official Mark-to-Market (M2M) currency rates for April 21, 2026, compiled from weighted-average interbank closing data and international cross-rate benchmarks.
These rates serve as the authoritative reference for authorized dealers, importers, exporters, and remittance flows across the country.
US Dollar (USD) — 278.90 PKR
The US Dollar stands at 278.90 PKR in the ready (spot) market, reflecting the weighted average of interbank closing rates collected through brokerage houses. Forward tenors show a steady upward curve: one-week at 279.31, one-month at 280.23, and one-year at 287.10. The gradual premium across the forward curve indicates stable dollar demand from trade and external debt servicing, with no abrupt volatility in the interbank session.
UK Pound Sterling (GBP) — 376.39 PKR
The British Pound is quoted at 376.39 PKR spot, with forward rates climbing to 386.96 for the one-year tenor. The pound retains its position as one of the highest-value majors against the rupee, driven by Pakistan’s strong remittance corridor with the United Kingdom and ongoing trade settlements denominated in sterling. The smooth forward scale suggests market confidence in the cross’s near-term trajectory.
Euro (EUR) — 328.07 PKR
The Euro opens at 328.07 PKR in the ready market, extending to 341.42 on the one-year forward. As a key currency for Pakistan’s machinery imports, pharmaceutical raw materials, and European development-fund inflows, the euro’s level remains closely watched by industrial importers. The forward premium of roughly 13 rupees over 12 months aligns with broader emerging-market euro dynamics.
Qatari Riyal (QAR) — 76.51 PKR
The Qatari Riyal is fixed at 76.51 PKR spot, scaling to 78.87 on the one-year contract. Given Qatar’s role as a primary destination for Pakistan’s overseas workforce and LNG import settlements, the riyal rate directly affects both household remittance conversions and energy-sector import costs. The forward structure remains orderly, reflecting predictable Gulf-rupee liquidity.
Canadian Dollar (CAD) — 204.20 PKR
The Canadian Dollar trades at 204.20 PKR ready, with a one-year forward of 214.99. The loonie’s level is significant for Pakistani commodity importers and the education-remittance segment tied to Canadian diaspora settlements. The 10-rupee annualized forward gap points to moderate hedging interest from corporates with North American payables.
Kuwaiti Dinar (KWD) — 910.40 PKR
The Kuwaiti Dinar commands 910.40 PKR in the spot market, the highest-valued unit on the SBP board, stretching to 944.40 on the 12-month forward. Kuwait’s deep labor market for Pakistani workers and its status as a high-value remittance source make the dinar a critical benchmark for Gulf-based earnings repatriation. The substantial forward premium reflects the currency’s scarcity and long-dated hedging requirements.
Omani Riyal (OMR) — 724.41 PKR
The Omani Riyal is set at 724.41 PKR spot, with forward contracts reaching 745.57 for one year. Oman remains a steady corridor for skilled Pakistani labor, and the rial’s valuation directly impacts remittance households in Punjab and Khyber Pakhtunkhwa. The forward curve remains well-behaved, signaling no immediate stress in rial-rupee liquidity.
Other Currencies
The SBP’s April 21 bulletin also covers Saudi Riyal at 74.36, UAE Dirham at 75.93, Swiss Franc at 357.50, Australian Dollar at 199.50, Singapore Dollar at 219.25, Japanese Yen at 1.7522 per unit, Chinese Yuan at 40.92, Indian Rupee at 2.981, Malaysian Ringgit at 70.52, Thai Baht at 8.693, Turkish Lira at 6.212, Hong Kong Dollar at 35.62, New Zealand Dollar at 164.61, Swedish Krona at 30.47, Norwegian Krone at 29.85, Danish Krone at 43.90, South African Rand at 17.03, Mexican Peso at 16.09, Russian Ruble at 3.731, South Korean Won at 0.1895, Indonesian Rupiah at 0.0163, Sri Lankan Rupee at 0.8809, and Bangladeshi Taka at 2.273, alongside several other regional and emerging-market units. All rates are issued for authorized dealers to revalue their books on a mark-to-market basis, with the USD/PKR rate compiled from brokerage-house data and cross-currencies derived from LSEG Workspace quotations.