Treasury Management Division of the National Bank of Pakistan (NBP) has revealed the most recent exchange rates, offering a glimpse into the current state of global currencies. Simultaneously, the Kerb Market, overseen by the Exchange Companies Association of Pakistan, has also presented its opening rates for foreign currencies, adding another layer of insight for investors and traders alike.
NBP EXCHANGE RATES:
The NBP has meticulously curated a list of exchange rates for various currencies, providing transparency and clarity to financial transactions. Here’s a breakdown of the latest rates:
- U.S. Dollar (USD): Selling at 278.85 and Buying at 278.35.
- Euro (EUR): Selling at 305.46 and Buying at 304.92.
- Japanese Yen (JPY): Selling at 1.8527 and Buying at 1.8494.
- British Pound (GBP): Selling at 356.82 and Buying at 356.18.
- Swiss Franc (CHF), Canadian Dollar (CAD), Australian Dollar (AUD), and several other currencies are also included in NBP’s comprehensive list.
Additionally, NBP offers conversion rates for Frozen FCY Deposits, highlighting the conversion rates for major currencies such as USD, GBP, EUR, and JPY, with a settlement date set for March 25, 2024.
CONVERSION RATE FOR FROZEN FCY DEPOSITS:
- USD: 278.2791
- GBP: 353.5815
- EUR: 302.1555
- JPY: 1.8366
- Settlement Date: 25-03-2024
FORWARD COVER EXCHANGE RATES
The Exchange Rates Committee of the Financial Markets Association of Pakistan has published its latest Exchange Rates bulletin, unveiling crucial conversion rates for March 21, 2024, specifically for foreign currency for forward cover for deposits, excluding FE 25 deposits.
SBP Settlement Value Date February 25, 2024:
- USD: 278.2791
- GBP: 353.5815
- EUR: 302.1555
- JPY: 1.8366
KERB MARKET RATES:
The Kerb Market, renowned for its dynamic nature, has also released its opening rates for foreign currencies, offering an alternative perspective on currency valuations. Here’s a glimpse into the Kerb Market’s rates:
- U.S. Dollar (USD): Buying at 278.30 and Selling at 281.05.
- Euro (EUR): Buying at 302.65 and Selling at 305.65.
- British Pound (GBP): Buying at 354.15 and Selling at 357.65.
- Japanese Yen (JPY): Buying at 1.82 and Selling at 1.90.
These rates provide a valuable reference point for traders and investors looking to navigate the intricacies of the currency market.
READ: NBP PKR EXCHANGE RATES AND THEIR IMPLICATIONS
IMPLICATIONS AND CONSIDERATIONS:
For companies who deal internationally, tourists who are planning trips abroad, and investors looking to make investments in overseas markets, the release of these currency rates has important ramifications. The need to be informed and modify strategy as necessary is highlighted by the volatility in currency rates.
