The State Bank of Pakistan (SBP) has published the latest mark-to-market (M2M) currency rates for US Dollar (USD) and other major foreign currencies against the Pakistani Rupee (PKR) on October 22, 2025.
These rates, essential for authorized foreign exchange dealers to revalue their books daily, are based on the weighted average of the closing interbank exchange rate for the US Dollar (USD) from brokerage houses, with other currencies’ rates derived from USD/PKR data and their USD exchange rates on LSEG Workspace.
The US Dollar (USD) showed slight depreciation, trading at 281.0539 PKR in the spot market, with forward rates progressing to 293.4321 PKR for the one-year tenor. The Saudi Riyal (SAR) held steady at 74.9397 PKR for the spot rate, with its one-year forward at 77.6656 PKR. The United Arab Emirates Dirham (AED) was at 76.5189 PKR, rising to 79.9760 PKR over one year. The Qatari Riyal (QAR) opened at 77.1067 PKR in the spot market, climbing to 80.4596 PKR for the one-year tenor.
The Kuwaiti Dinar (KWD) remained a powerhouse at 916.7093 PKR for the spot rate, with a one-year forward of 963.0671 PKR, highlighting sustained demand. The Euro (EUR) dipped to 325.9101 PKR in the spot market, with forward rates reaching 345.8957 PKR for one year. The Bahraini Dinar (BHD) stood at 745.5415 PKR, advancing to 774.7076 PKR in the one-year tenor. The British Pound (GBP) traded at 374.4622 PKR, with its one-year forward rate at 390.2119 PKR, reflecting consistent forward premium growth.
Analysts attribute the USD’s minor softening and the EUR’s slight decline to global economic fluctuations, while steady remittance inflows continue to support the PKR. Gulf currencies maintain their resilience, underpinned by stable regional economic conditions. The forward premiums suggest a cautious outlook for the PKR, with potential influences from global monetary policies, particularly from the US Federal Reserve.
Other Currency Rates
Other currencies’ spot rates included: Japanese Yen (JPY) at 1.8509 PKR, Swiss Franc (CHF) at 352.8612 PKR, Australian Dollar (AUD) at 182.6710 PKR, Canadian Dollar (CAD) at 200.6310 PKR, Swedish Krona (SEK) at 29.7807 PKR, Norwegian Krone (NOK) at 28.0223 PKR, Danish Krone (DKK) at 43.6361 PKR, Singapore Dollar (SGD) at 216.4201 PKR, New Zealand Dollar (NZD) at 161.5638 PKR, Malaysian Ringgit (MYR) at 66.4430 PKR, Hong Kong Dollar (HKD) at 36.1710 PKR, Indian Rupee (INR) at 3.2036 PKR, South African Rand (ZAR) at 16.1451 PKR, Omani Riyal (OMR) at 729.9817 PKR, Bangladeshi Taka (BDT) at 2.2981 PKR, Brazilian Real (BRL) at 52.1595 PKR, Argentine Peso (ARS) at 0.1886 PKR, Chinese Yuan (CNY) at 39.4481 PKR, Sri Lankan Rupee (LKR) at 0.9274 PKR, Thai Baht (THB) at 8.5661 PKR, Turkish Lira (TRY) at 6.6955 PKR, Indonesian Rupiah (IDR) at 0.0170 PKR, Mexican Peso (MXN) at 15.2708 PKR, Russian Rubles (RUB) at 3.4292 PKR, South Korean Won (KRW) at 0.1963 PKR, and Offshore Chinese Yuan (CNH) at 39.4260 PKR. As usual, BDT, BRL, and ARS have no forward rates beyond spot.
These rates are sourced from State Bank of Pakistan’s Official M2M release