Stability in Currency Exchange Rates Noted Over Two Days, Detailed by ECAP

Karachi: The Exchange Companies Association of Pakistan (ECAP) has released the currency exchange rates for the United States Dollar, Euro, British Pound, Japanese Yen, United Arab Emirates Dirham, and Saudi Riyal for October 11 and 12, 2024. The rates have shown a marked consistency across these two days with minor fluctuations.

According to Exchange Companies Association of Pakistan, on October 11, the buying and selling rates for the USD stood at 278.15 and 279.59 respectively, which slightly adjusted to 279.45 for selling on the following day while maintaining the buying rate. Similarly, the Euro was bought at 301.83 and sold at 304.67, seeing a negligible change in the selling rate to 304.68 by October 12.

The British Pound buying rate observed on the first day was 360.73, and the selling rate was 364.16, which saw a minor increment in both buying and selling rates by October 12, indicating slight volatility. Conversely, the Japanese Yen buying rate increased from 1.83 to 1.85, and the selling rate moved from 1.89 to 1.90.

Rates for the AED and SR saw marginal adjustments. The AED was bought at 75.32 and sold at 76.01 on October 11, with the selling rate slightly reducing to 75.97 the next day. The SR followed a similar trend, with its buying and selling rates initially noted at 73.52 and 74.17 respectively, adjusting to 73.47 and 74.13 by October 12.

The interbank rates for USD were reported at 277.64 and 277.84 on October 11, with no data available for the following day, indicating a possible stability in the market or lack of transactions recorded.