The National Bank of Pakistan (NBP) on Monday released its latest foreign exchange rate sheet, showing the Pakistani rupee trading close to Rs280 against the US dollar in interbank transactions, while major global currencies continued to hold firm.
According to the NBP rate sheet dated December 15, the US dollar was quoted at Rs280.70 for TT selling and Rs280.20 for TT buying. In the ready market, the indicative settlement rate for the dollar stood at Rs280.2934, with settlement scheduled for December 17. Forward rates suggested a gradual decline over the six-month period, reflecting market expectations linked to interest rate differentials and liquidity conditions.
Pound and euro remain elevated
The British pound continued to trade at elevated levels against the rupee. NBP listed the pound at Rs375.11 for TT selling and Rs374.44 for TT buying, while the ready transaction rate was indicated at Rs375.0886. Forward contracts for the pound showed a steady downward trend over the coming months, mirroring broader movements in international currency markets .
The euro was quoted at Rs329.53 on the selling side and Rs328.95 for buying. Its ready rate stood at Rs329.0364, with forward rates easing gradually across the one- to six-month tenor.
Regional and Asian currencies
Among regional currencies, the UAE dirham was listed at Rs76.43 for selling and Rs76.29 for buying, while the Saudi riyal was quoted at Rs74.81 and Rs74.67, respectively. These currencies typically track the US dollar due to their fixed exchange rate regimes.
The Chinese yuan was quoted at Rs39.82 for selling and Rs39.75 for buying. The Japanese yen was listed at Rs1.8064 on the selling side and Rs1.8031 for buying, while the Swiss franc stood at Rs352.70 and Rs352.08. Other currencies, including the Canadian and Australian dollars, also showed modest movements .
Cash rates and benchmark figures
NBP also released separate rates for cash and currency notes. Under this category, the US dollar was quoted at Rs282.10 for selling and Rs279.08 for buying. The British pound cash selling rate stood at Rs376.99, while the euro was listed at Rs331.18 .
In addition, the bank published benchmark interest figures, including the Secured Overnight Financing Rate (SOFR), which stood at 3.7343 percent for one month and 3.7063 percent for three months. These benchmarks are widely used in international financial contracts.
Rates indicative, bank cautions
NBP clarified that the published rates are market indicative and subject to change without prior notice. Transactions exceeding $5,000, or the equivalent in other currencies, require direct coordination with the Treasury Sales Desk. The bank also noted that certain currencies listed in the sheet are not available to retail customers and are handled exclusively through treasury operations .
