The US Dollar closed at Rs276.7137 in the State Bank of Pakistan’s (SBP) mark-to-market revaluation rates issued on Tuesday, reflecting continued stability of the Pakistani rupee in the interbank market amid ongoing geopolitical uncertainty linked to the Iran proxy crisis.
As per SBP rates for authorized dealer, Rs371.2391 for UK pound, Rs73.7235 for Saudi Riyal and Rs75.3434 for UAE Dirham. While other Middle Eastern currency rates are Rs898.2753 for the Kuwaiti dinar, Rs733.3079 for the Bahraini Dinar, Rs718.7089 for Omani Riyal and Rs75.8952 for Qatari Riyal.
The Canadian Dollar stood at Rs198.1480, the Australian Dollar closed at Rs193.0216 and the Euro Rs309.7810, respectively, against the rupee.
The exchange rates are published on the central bank’s website at 4:30 pm each day and provide a reference point for authorized dealers to valuate their foreign exchange positions on a mark-to-market basis. The dollar rate is the weighted average of the closing interbank rates observed through various brokerage houses, with other currency rates based on the USD/PKR rate and cross rates available on LSEG Workspace.
Daily exchange rates impact millions of Pakistani households and businesses. The substantial inflow of remittances from Saudi Arabia, the UAE, and other Gulf states remains a critical source of foreign currency and livelihood for families. Even slight movements in the Riyal or Dirham affect the value of remittances in rupees upon arrival.
Importers of oil and gas products, industrial machinery, and other necessities closely monitor the dollar and euro, as rising rates increase letters of credit and exert upward pressure on retail prices. Study-abroad students, medical treatment seekers, and exporters rely on reliable, fast exchange rate figures for planning and calculations, as these figures are more concrete than abstract market data.
The US-Israel Iran conflict, which escalated earlier this year, has been a defining factor on energy and currency markets in 2026. Throughout much of 2026, high oil prices pushed import bills higher for import-dependent countries and stoked inflationary pressures across the region. Several currencies, including those of emerging markets, came under pressure during the conflict’s worst phase.
The Pakistani rupee has held relatively steady against the dollar even as energy prices rose. Analysts attribute this to steady remittance inflows and the central bank’s reserve-building efforts, which have kept the rupee fairly stable.
Qatari-mediated peace negotiations have sparked cautious optimism. Oil prices fell in early November amid de-escalation expectations, alleviating some pressure on Pakistan’s import bill and contributing to the stability reflected in today’s SBP rates.
Despite the wider conflict remaining a headwind for regional inflation and energy security, the latest mark-to-market levels indicate that Pakistan’s FX market has weathered the external shock without significant turmoil. The rupee remains relatively stable against global reserve currencies and key regional peers.
