Dollar and Other Currency Rates in Pakistan Today- 22 Dec. 2025

Karachi, 22 December 2025– The Pakistani rupee closed the pre-holiday trading week on a firmer note, with the State Bank of Pakistan (SBP) fixing the US Dollar/Pakistani Rupee mark-to-market rate at Rs 280.2235, 3 paisa lower than Friday’s close and the lowest point since mid-December as it released its currency rates report today.

Priority Currencies – Quick Take

1. US Dollar (USD) – 280.22 (spot)

The 3-paisa dip keeps the greenback locked inside a 279–282 range that has prevailed since September. One-week forwards are quoted at 280.52, implying a carrying cost of only 0.10 %. Year-end importer demand is muted and exporters continue to sell 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) – 74.71

The Kingdom’s currency eased 1 paisa to 74.71; one-year forward is 77.24, 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) – 76.88

QAR eased 1 paisa to 76.88; 12-month forward is 80.15, a 4.3 % annualised gap—identical to SAR/AED, underscoring uniform Gulf-peg stability.

5. Kuwaiti Dinar (KWD) – 911.18

The world’s highest-valued currency shed Rs 1.0 to 911.18 on the softer USD leg. Twelve-month forwards at 958.06 pencil out to 5.1 % annualised PKR weakness—marginally wider than GCC peers owing to thinner dinar liquidity.

6. Bahraini Dinar (BHD) – 743.24

BHD is down 9 paisa at 743.24; six-month forward is 753.97, an annualised 2.9 %—the flattest curve among GCC pairs. Manama-related IT remittances remain steady.

7. Australian Dollar (AUD) – 186.04

The “Aussie” hit a six-week high of 186.04 as iron-ore futures climbed to $107/t. One-year forward is 193.27, 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) – 203.37

The “Loonie” held above 203 as WTI crude steadied near $79/bbl. Twelve-month forwards at 214.86 still pencil out to 5.7 % annualised rupee softness, but spot traders say any further CAD strength will be capped by year-end import payments.

Other Major Currency Rates

Euro opened at 328.70, up 0.5 % on the week after softer US CPI data; one-year forward is 348.14, translating into 5.9 % annualised rupee weakness. Sterling firmed to 375.82, little moved after BoE rhetoric cooled rate-cut bets. Japanese yen remains the cheapest major at 1.78 per unit, but forwards price 7.2 % annualised PKR decline—the steepest among G-10 pairs. Swiss franc is 352.68; Singapore dollar 217.03; Swedish krona 30.30; Norwegian krone 27.73; Danish krone 44.01; New Zealand dollar 161.97; Chinese yuan 39.82; Turkish lira 6.55; Russian ruble 3.52; Indian rupee 3.13; 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 $20.2 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.