Dollar and Other Currency Rates in Pakistan Today, 19 Dec. 2025

Karachi, 19 December 2025 – The Pakistani rupee ended the trading week on a stronger note, with the State Bank of Pakistan (SBP) fixing the US Dollar/PKR mark-to-market rate at Rs 280.2542, 25 paisa lower than Thursday’s close as the bank released latest currency rates..

Priority Currencies – Quick Take

1. US Dollar (USD) – 280.25 (spot)

The 25-paisa decline trims the greenback’s December gain to just 2 paisa, reinforcing the 279–282 range that has held since September. One-week forwards are quoted at 280.51, implying a carrying cost of only 0.09 %. Year-end importer demand is muted and exporters are selling every uptick above 280.80.

“Liquidity is comfortable; the market is effectively in holiday mode ahead of the year-end close,” said a senior treasury official at a local bank.

2. Saudi Riyal (SAR) – 74.72

The Kingdom’s currency eased 1 paisa to 74.72; one-year forward is 77.26, an annualised 3.4 %—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) – 76.30

Dirham spot slipped 1 paisa to 76.30; six-month forward is 77.57, implying 3.3 % annualised rupee softness. UAE-based salary disbursements continue to migrate to banking channels, supporting the rupee into the winter months.

4. Qatari Riyal (QAR) – 76.91

QAR eased 1 paisa to 76.91; 12-month forward is 80.19, a 4.3 % annualised gap—identical to SAR/AED, underscoring uniform Gulf-peg stability.

5. Kuwaiti Dinar (KWD) – 912.20

The world’s highest-valued currency shed Rs 1.8 to 912.20 on the softer USD leg. Twelve-month forwards at 959.18 pencil out to 5.2 % annualised PKR weakness—marginally wider than GCC peers owing to thinner dinar liquidity.

6. Bahraini Dinar (BHD) – 743.32

BHD is down 74 paisa at 743.32; six-month forward is 753.76, an annualised 2.8 %—the flattest curve among GCC pairs. Manama-related IT remittances remain steady.

7. Australian Dollar (AUD) – 185.16

The “Aussie” hit a six-week high of 185.16 as iron-ore futures rebounded to $105/t. One-year forward is 192.39, implying 3.9 % annualised rupee depreciation—almost flat against the SAR curve, meaning AUD/PKR moves are driven purely by commodity swings.

8. Canadian Dollar (CAD) – 203.22

The “Loonie” recaptured 203.22 as WTI crude steadied near $79/bbl. Twelve-month forwards at 214.71 still pencil out to 5.6 % annualised rupee softness, but spot traders say any further CAD strength will be capped by year-end import payments.

Other Major Currencies

Euro opened at 328.21, up 0.7 % on the week after softer US CPI data; one-year forward is 347.64, translating into 5.9 % annualised rupee weakness. Sterling firmed to 374.83, little moved after BoE rhetoric cooled rate-cut bets. Japanese yen remains the cheapest major at 1.79 per unit, but forwards price 7.3 % annualised PKR decline—the steepest among G-10 pairs. Swiss franc is 352.28; Singapore dollar 216.87; Swedish krona 30.11; Norwegian krone 27.53; Danish krone 43.93; New Zealand dollar 161.19; Chinese yuan 39.80; Turkish lira 6.55; Russian ruble 3.46; Indian rupee 3.11; Bangladeshi taka 2.29—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 $20.1 billion, while the real effective exchange rate (REER) slipped to 98.2 in November, 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.