Foreign Exchange Rates

News Desk 

Karachi: The Exchange Rates Committee of the Financial Markets Association of Pakistan issued the following exchange rates bulletin on Monday.

Conversion Rates for May 27, 2024, for Foreign Currency for Forward Cover for Deposits (excluding FE 25 deposits)

SBP Settlement Value Date: May 29, 2024      

     USD      278.1097

     GBP      353.1437 

     EUR      300.9981 

     JPY        1.7706

The Pakistani rupee strengthened to its highest level in nearly 20 months on Monday, gaining further ground against both the US dollar and the UAE dirham amid improving foreign exchange reserves and continued financial backing from international lenders.

According to market data, the rupee traded below 278 against the US dollar and around 75.5 against the UAE dirham, reflecting growing stability in Pakistan’s currency market after years of sharp volatility.

Currency tracking platform xe.com showed that the rupee has appreciated by more than three percent over the past 10 months, supported by rising foreign exchange reserves and sustained support from the International Monetary Fund and Saudi Arabia.

Pakistan’s total liquid foreign reserves have also shown steady improvement, climbing from $14.75 billion in April 2025 to $22.59 billion this month, according to official figures.

Data released by the State Bank of Pakistan showed that the Real Effective Exchange Rate (REER) appreciated to 105.8 in April 2026, compared to 104.3 recorded in March, indicating strengthening external competitiveness and currency stability.