KARACHI: Pakistani rupee has strengthened marginally against major global currencies on June 29, 2026 as State Bank of Pakistan issues its currency rates. In the interbank market, the US Dollar traded for Rs 278.17 to gain slightly against the rupee on Monday.
The currency market witnessed relative resilience, underpinned by the sustained stability of foreign exchange reserves and improving market sentiment. Saudi Riyal at Rs 74.07, UAE Dirham at Rs 75.74, Sterling Pound at Rs 367.62 The Saudi Riyal and the UAE Dirham continued their stable trajectory, a significant relief for Pakistani workers abroad who regularly send home money that supports a substantial portion of the country’s economy. The Saudi Riyal (SR), a lifeline for a significant chunk of Pakistani labor in the Kingdom, traded at Rs 74.07 on Monday. It is one of Pakistan’s largest sources of remittances, boosting household income.
The UAE Dirham (AED), pegged with the greenback, remained firm at Rs 75.74.
Remittances from the UAE contribute immensely to Pakistan’s forex stability. The Sterling Pound also managed to hover around the previous levels to be quoted at Rs 367.62. The United Kingdom remains a major hub for Pakistan’s diaspora, and remittances form an integral part of the country’s external account balance.
Meanwhile, other currencies from the Gulf Cooperation Council countries also posted stable exchange rates on June 29, 2026. The Kuwaiti Dinar (KWD), one of the most valuable currencies, was priced at Rs 903.45. Bahraini Dinar (BHD) traded at Rs 737.85, reflecting a sound economic position backed by the financial sector and energy markets.
Qatar Riyal (QAR) stands at Rs 76.32.
Omani Rial (OMR) remained stable at its accustomed levels against the rupee, reflecting regional economic stability.
Canadian Dollar at Rs 196.03, Aussie at Rs 191.81 Canadians and Australians remittances-based Pakistan’s exchange rate system and global financial integration continued. Canada Dollar (CAD) was at Rs 196.03, a crucial exchange rate for the burgeoning Pakistani community in Canada – an increasingly popular destination for students, professionals and entrepreneurs. The Australian Dollar (AUD) traded at Rs 191.81.
Australia has emerged as another significant remittance-sending country for Pakistan, attracting a large number of students and skilled workers.
The resilience of the Pakistani rupee in the past year can be attributed to sustained economic recovery and a proactive monetary policy by the State Bank of Pakistan (SBP). Foreign exchange reserves continued to climb, reaching near-record levels by 2026, providing a strong buffer against external shocks. SBP’s consistent interventions, coupled with ample liquidity in the interbank market, have ensured the currency’s relative stability.
Economists pointed out that the average weighted interbank exchange rate remained contained within a narrow corridor throughout 2026, testament to the SBP’s effective management of supply and demand dynamics. “While fully allowing market forces to dictate exchange rate movements remains a priority, the central bank’s judicious interventions have facilitated stability and predictability,” commented one economist. The stable exchange rate environment is a positive indicator for the country’s balance of payments position, bolstering the confidence of international investors and lenders.