Karachi, April 22, 2026 – The State Bank of Pakistan (SBP) has published its latest Mark-to-Market (M2M) currency rates for authorized dealers, providing updated reference rates for foreign currency transactions against the Pakistani Rupee (PKR).
Here’s a comprehensive breakdown of today’s key currency rates for traders, importers, exporters, and remittance senders.
US Dollar (USD) at PKR 278.87
The US Dollar, Pakistan’s most traded foreign currency, is quoted at PKR 278.87 (ready rate) for same-day settlements in today’s SBP report. The greenback shows modest forward premiums across tenors, with the 1-year rate projected at PKR 289.88, reflecting measured market expectations of rupee depreciation over the coming months. The USD/PKR rate remains the cornerstone benchmark for international trade, remittance inflows, and foreign debt servicing obligations.
What this means for you: For every $100, you’ll need PKR 27,887 for same-day transactions. This rate affects everything from imported electronics and fuel prices to overseas education and medical expenses.
British Pound (GBP) Trades at PKR 377.29
Sterling continues to command a significant premium against the rupee, with the British Pound quoted at PKR 377.29 for ready transactions. The GBP/PKR pair shows steady upward momentum in forward markets, reaching PKR 390.63 for 1-year contracts. UK-bound remittances and bilateral trade flows remain sensitive to this rate, particularly for Pakistani expatriates and importers of British goods and services.
Quick conversion: £100 equals approximately PKR 37,729 at today’s ready rate—useful for planning tuition payments or family support transfers.
Kuwaiti Dinar (KWD) Leads at PKR 910.00
The Kuwaiti Dinar remains the highest-valued currency against the PKR in today’s report, trading at PKR 910.00 on a ready basis. As a key currency for Pakistani workers in the Gulf Cooperation Council region, the KWD/PKR rate directly impacts remittance inflows from Kuwait. Forward rates indicate gradual appreciation expectations, with the 1-year rate at PKR 954.48, signaling sustained demand for Gulf currencies.
Remittance insight: Every 1,000 KWD sent home equals approximately PKR 910,000 for Pakistani families—making timely transfers crucial for maximizing value.
Qatari Riyal (QAR) at PKR 76.49
The Qatari Riyal is quoted at PKR 76.49 for same-day settlements. With a significant Pakistani labor presence in Qatar’s energy, construction, and services sectors, this rate is closely watched for remittance calculations and cross-border trade. The QAR shows stable forward pricing, with the 12-month rate at PKR 79.46, reflecting contained volatility expectations in the Gulf currency basket.
Bahraini Dinar (BHD) Firm at PKR 739.42
The Bahraini Dinar holds strong at PKR 739.42 in ready transactions. As another key Gulf currency for Pakistani expatriates, the BHD/PKR rate influences cross-border money transfers and trade settlements with Bahrain. Forward curves suggest measured appreciation, with the 1-year rate projected at PKR 766.37, aligning with broader regional currency trends.
Canadian Dollar (CAD) at PKR 204.35
The Canadian Dollar is trading at PKR 204.35 for ready value. With growing educational, immigration, and business ties between Pakistan and Canada, the CAD/PKR rate is increasingly relevant for students, families, and SMEs engaged in cross-border commerce. Forward rates indicate moderate upward pressure, with the 1-year contract at PKR 215.21.
Student alert: Canadian tuition fees of CAD 20,000 would require approximately PKR 4.09 million at current rates—plan your forex needs accordingly.
Other Currencies in Focus
Beyond the priority currencies, several other major and regional currencies are actively quoted in Pakistan’s foreign exchange market today. The Euro (EUR) stands at PKR 327.76, while the Japanese Yen (JPY) is at PKR 1.75. Gulf currencies include the UAE Dirham (AED) at PKR 75.92, Saudi Riyal (SAR) at PKR 74.36, and Omani Rial (OMR) at PKR 724.33. Asian peers feature the Chinese Yuan (CNY) at PKR 40.88, Malaysian Ringgit (MYR) at PKR 70.54, Indian Rupee (INR) at PKR 2.97, Sri Lankan Rupee (LKR) at PKR 0.88, and Bangladeshi Taka (BDT) at PKR 2.27. Other notable rates include the Australian Dollar (AUD) at PKR 199.81, Swiss Franc (CHF) at PKR 357.55, Singapore Dollar (SGD) at PKR 219.10, New Zealand Dollar (NZD) at PKR 165.01, and South African Rand (ZAR) at PKR 16.93. European currencies include the Swedish Krona (SEK) at PKR 30.45, Norwegian Krone (NOK) at PKR 30.06, and Danish Krone (DKK) at PKR 43.86. Emerging market currencies show the Brazilian Real (BRL) at PKR 56.29, Turkish Lira (TRY) at PKR 6.21, Indonesian Rupiah (IDR) at PKR 0.016, Mexican Peso (MXN) at PKR 16.12, Russian Ruble (RUB) at PKR 3.72, South Korean Won (KRW) at PKR 0.19, and Kazakhstani Tenge (KZT) at PKR 0.60. The Hong Kong Dollar (HKD) is quoted at PKR 35.61, while the Thai Baht (THB) trades at PKR 8.67. The Argentine Peso (ARS) shows limited forward liquidity with a ready rate of PKR 0.20.
Week-Over-Week Market Analysis: April 22, 2026
Comparing April 22 with April 15, 2026 (previous week):
- USD/PKR: Slight depreciation to 278.87 (vs 278.96) – marginal rupee strength over the week
- GBP/PKR: Minor decline to 377.29 (vs 377.57) – sterling showing slight weakness
- KWD/PKR: Decreased to 910.00 (vs 910.69) – Gulf currencies consolidating
- EUR/PKR: Trading at 327.76, down from 328.72 – euro losing some ground
- CAD/PKR: Increased to 204.35 (vs 202.44) – Canadian dollar gaining strength
The Pakistani Rupee demonstrated relative stability over the past week, with the USD/PKR pair holding steady around the 279 level. The rupee showed slight appreciation against the dollar, supported by consistent remittance inflows and balanced interbank liquidity. Market participants are closely monitoring global oil prices, US Federal Reserve signals, and regional economic developments for directional cues heading into the final week of April.
