Pakistan currency rates remain stable in latest SBP update

The State Bank of Pakistan has released its official M2M currency rates for April 20, 2026, showing relative stability in the foreign exchange market. The data reflects ready (spot) interbank rates used by banks, businesses, and remittance channels across Pakistan.

The US Dollar continues to dominate the market, trading at Rs 278.91 against the Pakistani rupee. Forward rates indicate a gradual depreciation trend, with the one-year projection reaching Rs 289.84. The dollar remains crucial for trade, external debt servicing, and remittance inflows.

The British Pound stands at Rs 376.52, maintaining its position as one of the strongest currencies against the rupee. Its importance is tied to remittances from the United Kingdom, where a large Pakistani diaspora resides. Similarly, the Euro is trading at Rs 327.99, reflecting steady demand linked to trade with European Union countries.

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Among Gulf currencies, the Kuwaiti Dinar leads with a high value of Rs 910.43, followed by the Omani Riyal at Rs 724.45. These currencies are significant due to remittances from Pakistani workers in the Middle East. The Qatari Riyal remains stable at Rs 76.52.

The Canadian Dollar is trading at Rs 203.66, reflecting growing ties with Canada as a destination for students and skilled workers. Other currencies, including the Japanese yen, Swiss franc, and Australian dollar, also showed minor fluctuations but remained broadly stable.

Overall, the latest SBP data highlights a steady currency market, though forward rates suggest mild pressure on the rupee in the coming months. Analysts say external factors, including global economic conditions and trade balances, will continue to shape Pakistan’s currency outlook.