Inter Bank Forex Rates Today in Pakistan

Interbank rates are an essential component of Pakistan’s financial system. These rates represent the rates at which commercial banks lend or borrow money from each other for short-term purposes. The Inter Bank Forex Rates Today in Pakistan is an integral part of the overall money market in Pakistan, where financial institutions can access liquidity, manage their short-term funding requirements, and maintain their reserve requirements.

The State Bank of Pakistan (SBP) is the central bank of Pakistan and the main regulator of the interbank market. The SBP sets the policy rate, which is the interest rate at which banks can borrow from the central bank. This rate influences interbank rates, as banks adjust their lending and borrowing rates based on the policy rate. The interbank market in Pakistan is relatively small compared to other countries, and as a result, the interbank rates tend to be higher than other global rates.

Interbank rates in Pakistan are quoted in terms of the Karachi Interbank Offered Rate (KIBOR). KIBOR is the benchmark interest rate for the interbank market and is calculated on a daily basis by the Pakistan Stock Exchange (PSX) on behalf of the SBP. KIBOR rates are quoted for various tenors ranging from overnight to one year, with the overnight rate being the most commonly used benchmark. The Interbank Dollar Rate refers to the exchange rate of the US Dollar (USD) against the Pakistani Rupee (PKR) in the interbank market.

Interbank rates in Pakistan are affected by various factors, including inflation, economic growth, and government policies. For example, if the government implements expansionary policies, such as increasing government spending, this can lead to an increase in inflation and subsequently higher interbank rates. Conversely, if the government implements contractionary policies, such as reducing government spending, this can lead to lower inflation and lower interbank rates. The current USD to PKR Interbank Rate is subject to fluctuations based on various economic and political factors.

Inter Bank

Currency Bank Buying
TT Clean
Bank Selling
 Australian Dollar 176.72 177.22
 Canadian Dollar 200.45 200.95
 China Yuan 37.67 37.77
 Danish Krone 39.43 39.53
 Euro 296.40 302
 Hong Kong Dollar 35.00 35.10
 Japanese Yen 1.65 1.68
 Saudi Riyal 73.13 73.28
 Singapore Dollar 202.8 203.3
 Swedish Korona 25.44 25.54
 Swiss Franc 303.85 304.35
 Thai Bhat 7.37 7.41
 UK Pound Sterling 346.69 347.34
 US Dollar 277.8 278.2
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