The State Bank of Pakistan (SBP) has officially released the latest mark-to-market (M2M) exchange rates for major global currencies against the Pakistani Rupee (PKR). These rates serve as the official benchmark for authorized dealers, banks, and financial institutions to revalue their foreign exchange portfolios.
The updated figures reflect a stable outlook for the PKR, supported by consistent remittance inflows and controlled market volatility.
Latest Exchange Rates in Pakistan – November 8, 2025
| Currency | Spot Rate (PKR) | 1-Year Forward Rate (PKR) |
|---|---|---|
| 🇺🇸 US Dollar (USD) | 280.82 | 293.11 |
| 🇪🇺 Euro (EUR) | 324.02 | 343.96 |
| 🇬🇧 British Pound (GBP) | 368.56 | 384.31 |
| 🇸🇦 Saudi Riyal (SAR) | 74.87 | 77.12 |
| 🇦🇪 UAE Dirham (AED) | 76.45 | 78.04 |
| 🇶🇦 Qatari Riyal (QAR) | 77.04 | 78.63 |
| 🇰🇼 Kuwaiti Dinar (KWD) | 914.70 | 935.44 |
| 🇯🇵 Japanese Yen (JPY) | 1.83 | 1.91 |
| 🇨🇳 Chinese Yuan (CNY) | 39.43 | 41.18 |
| 🇮🇳 Indian Rupee (INR) | 3.16 | 3.26 |
| 🇦🇺 Australian Dollar (AUD) | 182.11 | 188.94 |
📊 Note: Forward rates indicate expected future prices after 12 months based on market trends.
Market Analysis – PKR Trends and Economic Context
According to SBP’s latest report, the US Dollar traded at PKR 280.82 in the spot market, showing minor depreciation against the rupee. Meanwhile, the Euro and British Pound recorded slight upward movements, suggesting mild fluctuations in global forex markets.
The Euro reached PKR 324.02, while the Pound Sterling climbed to PKR 368.56, reflecting stronger European currencies amid international trade adjustments and policy shifts.
Key Regional Currency Insights
The Saudi Riyal (SAR), UAE Dirham (AED), and Qatari Riyal (QAR) remained relatively stable — a positive sign for millions of Pakistani workers in the Gulf sending remittances home.
The Kuwaiti Dinar (KWD) continued to dominate as the highest-valued foreign currency, trading at over PKR 914.70 per unit.
Meanwhile, the Chinese Yuan (CNY) hovered around PKR 39.42, and the Japanese Yen (JPY) was recorded at PKR 1.83, both reflecting moderate performance influenced by regional trade trends.
Expert Commentary
Financial experts attribute the PKR’s recent stability to consistent inflows from overseas Pakistanis and tight monetary policies maintained by the SBP.
At the same time, minor dollar volatility is being driven by global market factors such as fluctuating oil prices, US inflation reports, and shifts in international interest rates.
“The rupee’s resilience is supported by healthy remittances and SBP’s prudent forex management,”
said a senior market analyst. “Forward rates suggest modest appreciation pressure for most Gulf currencies due to steady regional demand.”
Why M2M Exchange Rates Matter
The mark-to-market (M2M) exchange rate system is crucial for banks, importers, exporters, and multinational firms.
It helps ensure accurate valuation of foreign currency holdings and risk management for cross-border transactions.
Key uses include:
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Revaluation of financial statements for foreign exchange exposures
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Estimation of forward contracts and hedging positions
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Forecasting market trends for import/export planning
The forward rates serve as an important tool for predicting future PKR performance and investor confidence in Pakistan’s economy.
Outlook for PKR and Currency Markets
While short-term fluctuations are expected, analysts predict the PKR will maintain relative stability against major currencies through the first quarter of 2026.
This optimism is linked to:
-
Steady remittance inflows
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Tight monetary policy by SBP
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Improving trade balance due to reduced import pressures
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Ongoing IMF-backed reforms to stabilize reserves
However, global economic uncertainty and oil market volatility may continue to influence the rupee’s trajectory.
Summary: Key Takeaways
- USD trades at PKR 280.82, minor movement expected
- Euro and Pound gain slightly, reflecting global shifts
- Gulf currencies remain stable – good news for remittance receivers
- Kuwaiti Dinar tops the list at PKR 914.70
- Forward rates suggest modest depreciation in 2026
- PKR stability driven by SBP policy and inflows
Final Thoughts
The latest SBP exchange rate update reflects Pakistan’s ongoing efforts to maintain a balanced and transparent foreign exchange market. Despite global economic headwinds, the rupee’s performance remains resilient, supported by domestic fiscal discipline and steady foreign inflows.
As the year ends, investors, traders, and citizens can expect gradual market adjustments rather than sharp currency swings — a sign of growing confidence in Pakistan’s financial system.