Dollar and Other Currency Rates in Pakistan Today- Nov. 26, 2025

The State Bank of Pakistan (SBP) has announced the latest mark-to-market (M2M) rates of major foreign currencies such as US Dollar as of November 26, 2025, Wednesday.

These official rates, which are vital for authorized currency dealers to revalue their portfolios daily, are calculated based on the weighted average of interbank closing rates for the US Dollar from brokerage houses, with other currency valuations derived from USD/PKR data combined with their respective USD exchange rates on LSEG Workspace.

The US Dollar (USD) demonstrated relative stability, trading at 278.2429 PKR in the spot market, with forward contracts extending to 290.5770 PKR for one-year tenors. This reflects a measured exchange environment as Pakistan continues to navigate global economic headwinds while maintaining steady foreign exchange reserves.

Gulf region currencies maintained their characteristic strength on Wednesday. The Saudi Riyal (SAR) held firm at 74.1793 PKR for spot transactions, with annual forward rates reaching 76.8909 PKR. The United Arab Emirates Dirham (AED) was positioned at 75.7527 PKR, advancing to 79.1999 PKR over twelve-month contracts. The Qatari Riyal (QAR) traded at 76.3944 PKR in immediate exchanges, climbing to 79.7447 PKR for one-year commitments.

The Kuwaiti Dinar (KWD) retained its position as the strongest currency against the PKR, valued at 905.6924 PKR for spot rates, with forward contracts reaching 953.2625 PKR for annual tenors. This sustained premium underscores Kuwait’s robust economic fundamentals and continued demand for the currency in regional trade.

European and British Currencies Display Mixed Trends

The Euro (EUR) traded at 292.1766 PKR in the spot market, with one-year forward rates extending to 310.1552 PKR, reflecting ongoing adjustments in European monetary policy. The British Pound (GBP) commanded 351.0584 PKR for spot transactions, with annual forward contracts at 366.3522 PKR, maintaining its historical premium against the rupee.

The Swiss Franc (CHF) was valued at 314.6124 PKR, while the Bahraini Dinar (BHD) stood strong at 738.0406 PKR, progressing to 767.2651 PKR in twelve-month forward contracts.

Asian and Pacific Currencies Reflect Regional Dynamics

Among Asian currencies, the Chinese Yuan (CNY) was positioned at 38.4113 PKR, with the Offshore Chinese Yuan (CNH) at 38.3997 PKR, reflecting China’s controlled currency management approach. The Japanese Yen (JPY) traded at 1.8537 PKR, while the Hong Kong Dollar (HKD) was at 35.7964 PKR.

The Singapore Dollar (SGD) commanded 207.0983 PKR, and the Australian Dollar (AUD) was valued at 180.9319 PKR. The Indian Rupee (INR) traded at 3.2969 PKR, maintaining its exchange corridor with Pakistan’s currency.

Emerging Market Currencies Show Varied Performance

The Malaysian Ringgit (MYR) was positioned at 62.2757 PKR, while the Thai Baht (THB) traded at 8.0438 PKR. The Indonesian Rupiah (IDR) remained at 0.0175 PKR, and the South Korean Won (KRW) was valued at 0.1987 PKR.

Among other notable currencies, the Canadian Dollar (CAD) traded at 198.7282 PKR, the New Zealand Dollar (NZD) at 163.2218 PKR, and the South African Rand (ZAR) at 15.3483 PKR. The Turkish Lira (TRY) continued to reflect regional volatility at 8.0256 PKR.

Expert Analysis and Market Outlook

Currency market analysts attribute the PKR’s relative stability to consistent remittance inflows from overseas Pakistanis, improved export performance, and disciplined monetary policy management by the State Bank. The forward rate premiums across major currencies suggest market expectations of gradual depreciation pressures, though these remain within manageable ranges.

Financial experts note that Gulf currencies’ sustained strength reflects the oil-exporting nations’ economic resilience and stable fiscal positions. Meanwhile, the performance of Western currencies like the USD and EUR continues to be influenced by central bank policies, particularly the US Federal Reserve’s monetary stance and European Central Bank decisions.

The Omani Riyal (OMR) traded at 722.5742 PKR, while other regional currencies including the Bangladeshi Taka (BDT) at 2.3281 PKR and the Sri Lankan Rupee (LKR) at 0.9563 PKR reflected their respective economic conditions.

Market observers remain cautiously optimistic about the PKR’s trajectory, citing potential support from International Monetary Fund program compliance, improved fiscal metrics, and robust worker remittances. However, they also highlight risks from global economic uncertainty, commodity price fluctuations, and geopolitical tensions that could impact currency markets.

The forward market premiums, with one-year USD contracts at 290.5770 PKR compared to the spot rate of 278.2429 PKR, suggest market participants are pricing in moderate depreciation expectations while maintaining confidence in Pakistan’s macroeconomic stability.

Notably, several currencies including the Bangladeshi Taka (BDT), Brazilian Real (BRL) at 48.0848 PKR, and Argentine Peso (ARS) at 0.2778 PKR lacked forward rate quotations beyond spot market valuations, reflecting limited forward market depth for these currencies.

Note: Exchange rates are subject to market fluctuations and may vary throughout the trading day. Businesses and individuals should consult authorized dealers for real-time rates before conducting foreign exchange transactions.