The Pakistani rupee showed a mild decline in early interbank trading on Monday, November 10, with the US dollar slipping by 2 paisa, according to data from the Exchange Companies Association. The local currency was hovering around Rs280.80 during intraday trading.
So far in the current fiscal year, the rupee has strengthened by Rs2.94, or 1.05 percent, against the US dollar. However, since the beginning of the calendar year, it has lost Rs2.27, or 0.81 percent, reflecting mixed performance in recent months.
NBP releases updated forex rates
The Treasury Management Division of the National Bank of Pakistan (NBP) issued its daily foreign exchange rates for Monday, providing an official benchmark for market participants. These rates are widely used by banks, importers, exporters, and individuals for currency conversion and trade planning.
Under ready transaction rates, the US dollar was quoted at Rs280.65 for buying and Rs281.15 for selling. The Euro traded at Rs324.42/325.00, while the British Pound stood at Rs369.11/369.77. Other key currencies included the Japanese Yen at Rs1.8238/1.8270, the Swiss franc at Rs348.16/348.78, and the Chinese Yuan at Rs39.80/39.87.
Regional currencies were also stable, with the Saudi Riyal recorded at Rs74.84/74.97 and the UAE Dirham at Rs76.94/77.08. The NBP further announced conversion rates for frozen foreign currency deposits, effective Thursday, November 13. Under these rates, the US dollar was set at Rs280.7956, the British Pound at Rs368.4319, and the Euro at Rs323.982.
PKR’s movement in previous session
In the prior session, the Pakistani rupee had appreciated slightly by 3.11 paisa against the US dollar, settling at Rs280.82 in the interbank market. In the open market, the dollar was quoted at Rs281.00 for buying and Rs281.90 for selling.
The NBP’s regular updates play a crucial role in promoting transparency and stability in Pakistan’s foreign exchange market, helping both businesses and investors make informed decisions.
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