Today Interbank Rates in Pakistan

Current Interbank Exchange Rates - Latest PKR currency exchange against US Dollar $ Rates (USD), British Pound £ Rate (GBP), Saudi Riyal Rates (SAR), UAE Dirhams (AED), Canadian Dollars Rate (CAD), Australian Dollar Rate, Chinese Yuan Rates (CNY) and Euro Rates in Pakistan ( € EUR). Get Clean TT buying and Selling TT. OD (overdraft) buying of OD/T.CHQ exchange rates in Pakistan. State bank rates, NBP rates, HBL Rates, UBL rates, MCB rates and SCB Rates online. Foreign exchange.

Currency Symbol Buying TT Clean Selling TT & OD
U.S. Dollar USD 278.30 278.80
Euro EUR 294.65 295.25
British Pound GBP 337.20 337.85
UAE Dirham AED 75.75 75.90
Saudi Riyal SAR 74.17 74.32
Canadian Dollar CAD 203.14 203.64
Australian Dollar AUD 175.43 175.93
Japanese Yen JPY 1.83 1.86
Thai Bhat THB 7.60 7.64
Chinese Yuan CNY 38.00 38.10
Hong Kong Dollar HKD 35.53 35.63
Danish Krone DKK 39.46 39.56
Singapore Dollar SGD 202.65 203.15
Swedish Krona SEK 25.27 25.37
Swiss Franc CHF 311.17 311.67

Today Interbank Rates in Pakistan

Interbank exchange rates are the rates at which banks trade foreign currencies with each other. These rates are different from the open market rates, where individuals and businesses buy and sell currencies. In this page, you will find the latest interbank exchange rates for some of the most popular currencies in Pakistan, such as US Dollar, British Pound, Saudi Riyal, UAE Dirham, Canadian Dollar, Australian Dollar, Chinese Yuan, and Euro. You will also see the buying and selling rates for TT (telegraphic transfer) and OD (overdraft) transactions. Moreover, you will get information about the state bank rates, NBP rates, HBL rates, UBL rates, MCB rates, and SCB rates online. Foreign exchange is an important aspect of international trade and investment, so stay updated with the latest interbank currency rates in Pakistan.

Live Interbank Currency Rates in Pakistan

Options for Currency Exchange: If you need to exchange currency, you have two main options. You can either go to the open market, where you will find many money exchangers who offer competitive rates and fast service. Or you can go to any national bank, where you will get the official interbank rates and more security. However, banks may charge you higher fees and commissions, and may have less availability of foreign currency. The choice depends on your preference and convenience, but you should always compare the rates and conditions before making a transaction.

Defining Interbank

Interbank is the term used to describe the foreign exchange market where banks trade currencies with each other. Banks are in constant contact with each other through direct communication or electronic platforms, such as electronic broking services or Reuters. They exchange currencies for various purposes, such as facilitating international trade, hedging against currency risk, or making profits from speculation. The interbank market is decentralised and unregulated, meaning that there is no central authority or rule that governs its operations. The prices of currencies are determined by the supply and demand forces in the market, and they fluctuate constantly according to the economic and political conditions in the world. The interbank market is the largest and most liquid financial market in the world, with an average daily turnover of over $5 trillion.

Interbank Rate Difference

The interbank rate is the rate at which banks buy and sell currencies from each other. It is also known as the wholesale rate, because it is the rate that banks use to trade large amounts of currency. The interbank rate is different from the open market rate, which is the rate that individuals and businesses use to buy and sell currencies. The open market rate is also known as the retail rate, because it is the rate that is available to the general public. The difference between the interbank rate and the open market rate is called the spread, and it represents the profit margin of the money exchangers. The spread can vary depending on the currency pair, the market conditions, and the competition among the money exchangers. Generally, the spread is higher for less traded or more volatile currencies, and lower for more traded or more stable currencies.

Interbank Rates in Pakistan

In Pakistan, interbank rates are the rates that are used by the banks to trade foreign currencies with each other. These rates are also used by the State Bank of Pakistan, the National Bank of Pakistan, and other commercial banks to set their own rates for their customers. Interbank rates are usually lower than the open market rates, because banks can access cheaper sources of foreign currency and have lower operational costs. However, interbank rates are not always available or accessible to the public, because banks may have limited supply of foreign currency or may impose restrictions on certain transactions. Therefore, many people prefer to use the open market for currency exchange, where they can find more options and flexibility. The interbank rates in Pakistan are updated regularly on this page, so you can check the current bank rates and compare them with the open market rates. The most valuable currency according to interbank rate is Kuwaiti Dinar, followed by Saudi Riyal, Euro, Franc, and then Dollar. Interbank rates are influenced by the global and local economic and political factors, so they may change frequently.

Updating Interbank Rates

The interbank rates are the rates that are determined by the national bank of any country based on the market conditions and the policy objectives. The national bank updates the interbank rates every day and publishes them on its official website. The interbank rates are influenced by the following factors:

  • The value of foreign currency relative to the domestic currency. If the foreign currency appreciates or depreciates, the interbank rate will adjust accordingly.
  • The bank’s own estimation of interest rate. The bank may set the interbank rate higher or lower than the market rate to achieve its monetary policy goals, such as controlling inflation, stimulating growth, or maintaining stability.
  • The analysis and adoption of international bank rates. The bank may consider the interbank rates of other countries, especially the major trading partners, and align its interbank rate with them to maintain competitiveness and avoid currency misalignment.

Factors Affecting Interbank Rates

The interbank rates are mainly the interest rates that the banks charge each other for lending and borrowing foreign currency. The interest rates are affected by the supply and demand of foreign currency in the interbank market, which in turn depend on various economic and political factors. Some of the factors that affect interbank rates are:

  • The change in currency exchange rates of any country. The currency exchange rates reflect the strength and weakness of a country’s economy and its outlook. A higher currency exchange rate means a stronger economy and a higher interbank rate, and vice versa.
  • The unemployment rate in any country affects the amount of interest added to currency. The unemployment rate measures the level of economic activity and the labor market conditions. A higher unemployment rate means a weaker economy and a lower interbank rate, and vice versa.
  • The inflation rate in any country tends to lower the currency’s value and hence lower the interbank rate. The inflation rate measures the change in the prices of goods and services over time. A higher inflation rate means a loss of purchasing power and a lower interbank rate, and vice versa.
  • The economic growth rate of any country reflects on its interbank rate for currency exchange. The economic growth rate measures the increase in the output and income of a country over time. A higher economic growth rate means a more productive and prosperous economy and a higher interbank rate, and vice versa.