The State Bank of Pakistan (SBP) has issued its Mark-to-Market (M2M) exchange rates for August 15, 2025, providing updated benchmarks for businesses, investors, and individuals. These rates, based on the weighted average of closing interbank figures from brokerage houses and Reuters Eikon, cover major currencies including the US Dollar (USD), Saudi Riyal (SAR), UAE Dirham (AED), Kuwaiti Dinar (KWD), Canadian Dollar (CAD), and Qatari Riyal (QAR).
Key Currency Movements
- Saudi Riyal (SAR): Ready rate at PKR 75.1725, down PKR 0.0308 from August 13. Minor declines across all forward tenors may slightly lower Hajj/Umrah travel costs.
- UAE Dirham (AED): Ready rate at PKR 76.7955, down PKR 0.0416, reducing costs for trade and expatriate transfers.
- Kuwaiti Dinar (KWD): Ready rate at PKR 923.3408, down PKR 0.6167, potentially easing high-value transaction expenses.
- Canadian Dollar (CAD): Ready rate at PKR 204.4669, down PKR 0.6294, lowering costs for trade and remittances from Canada.
- Qatari Riyal (QAR): Ready rate at PKR 77.3897, down PKR 0.0441, offering marginal relief for Pakistanis in Qatar.
- US Dollar (USD): Ready rate at PKR 282.0621, down PKR 0.1607. The open market quoted USD at PKR 283.91 — slightly higher than SBP’s figure.
Other Major Currencies
- Euro (EUR): PKR 329.5896, down PKR 0.8651.
- British Pound (GBP): PKR 382.3634, up PKR 0.0644 — the only major currency to post a slight gain.
- Swiss Franc (CHF): PKR 350.2138, down PKR 1.0718.
- Australian Dollar (AUD): PKR 183.7071, down PKR 1.1630.
- Singapore Dollar (SGD): PKR 219.9744, down PKR 0.4261.
Market Outlook
The across-the-board declines in most major currencies from August 13 to August 15 indicate short-term strengthening of the Pakistani Rupee, easing import costs, remittance expenses, and overseas travel budgets. However, forward rates for 6-month to 1-year tenors remain higher, reflecting expectations of possible PKR weakening over the medium to long term.
These M2M rates are essential for authorized dealers in daily revaluation of books, influencing trade pricing, investment strategies, and financial reporting.
