Dollar and Other Currency Rates in Pakistan Today, 1 Dec 2025

Karachi, 1 December 2025 – State Bank of Pakistan (SBP) has released the Market to Market currency rates for Monday, December 1, 2025.

1. US Dollar (USD) – 280.51 (spot)

The 12-paisa dip erases the greenback’s November gain and keeps 2025’s 279–282 range intact for a fourth straight month. One-week forwards are quoted at 280.72, implying a carrying cost of only 0.08 %. Year-end importer demand is muted and exporters continue to sell every uptick above 281.00.
*“Liquidity is comfortable; the market is effectively in wait-and-see mode ahead of the IMF’s first-quarter review,”* said a senior treasury official at a local bank.

2. Saudi Riyal (SAR) – 74.76

The Kingdom’s currency eased 1 paisa to 74.76; one-year forward is 77.38, an annualised 3.5 %—still the tightest curve among major remittance currencies. Exchange companies report brisk walk-in demand from prospective Umrah travellers locking in rates before the seasonal rush.

3. UAE Dirham (AED) – 76.37

Dirham spot slipped 1 paisa to 76.37; six-month forward is 77.61, implying 3.4 % annualised rupee softness. UAE-based salary disbursements continue to migrate to banking channels, supporting the rupee into the winter months.

4. Qatari Riyal (QAR) – 76.98

QAR eased 1 paisa to 76.98; 12-month forward is 80.26, a 4.3 % annualised gap—identical to SAR/AED, underscoring uniform Gulf-peg stability.

5. Kuwaiti Dinar (KWD) – 914.03

The world’s highest-valued currency added Rs 1.9 to 914.03 on the firmer USD cross. Twelve-month forwards at 960.73 pencil out to 5.1 % annualised PKR weakness—marginally wider than GCC peers owing to thinner dinar liquidity.

6. Bahraini Dinar (BHD) – 744.06

BHD is flat at 744.06; six-month forward is 754.21, an annualised 2.7 %—the flattest curve among GCC pairs. Manama-related IT remittances remain steady.

7. Australian Dollar (AUD) – 183.70

The “Aussie” rebounded to 183.70 as iron-ore futures climbed back above $103/t. One-year forward is 191.32, implying 4.1 % annualised rupee depreciation—almost flat against the SAR curve, meaning AUD/PKR moves are driven purely by commodity swings.

8. Canadian Dollar (CAD) – 200.64

The “Loonie” recaptured the 200 handle at 200.64 as WTI crude steadied near $78/bbl. Twelve-month forwards at 212.37 still pencil out to 5.8 % annualised rupee softness, but spot traders say any further CAD strength will be capped by year-end import payments.

Other Majors – Single-Paragraph Round-Up

Euro opened at 325.78, up 0.2 % on the week after softer US payrolls; one-year forward is 345.50, translating into 6.1 % annualised rupee weakness. Sterling firmed to 370.88, little moved after BoE rhetoric cooled rate-cut bets. Japanese yen remains the cheapest major at 1.81 per unit, but forwards price 7.5 % annualised PKR decline—the steepest among G-10 pairs. Swiss franc is 349.45; Singapore dollar 216.59; Swedish krona 29.70; Norwegian krone 27.71; Danish krone 43.62; New Zealand dollar 160.94; Chinese yuan 39.67; Turkish lira 6.60; Russian ruble 3.61; Indian rupee 3.13; Bangladeshi taka 2.30—all inside well-worn ranges and implying no event-risk premium ahead of the IMF’s first-quarter 2026 review.

Market Context & Outlook

The uniformly narrow forward premiums—barely 5–6 % annualised even for the least-liquid pairs—tell currency desks that both importers and exporters believe the State Bank has enough cover to defend the rupee through the winter remittance season. Reserves have risen $1.5 billion in six weeks to $19.8 billion, while the real effective exchange rate (REER) slipped to 98.2 in October, a level the IMF considers “competitive but not undervalued.” Unless oil spikes above $90 or political noise disrupts the Fund programme, traders expect USD/PKR to remain hand-cuffed to the 279–282 corridor for the rest of 2025, dragging the rest of the currency mosaic along in its slipstream.