Forex Rates & Pakistan Exports to US Surge in 2024-25
However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 277.60 and Rs 279.10 respectively.
The price of the Euro increased by Rs 1.17 to close at Rs 293.99 against the last day’s closing of Rs 292.82, according to the State Bank of Pakistan (SBP).
The Japanese yen went up by 02 paise and closed at Rs 1.85, whereas an increase of Rs 1.75 was witnessed in the exchange rate of the British Pound, which traded at Rs 353.49 as compared to the last day’s closing of Rs 351.74.
The exchange rate of the Emirates Dirham increased by 01 paise and closed at Rs 75.70 while the Saudi Riyal decreased by 02 paise to close at Rs74.01.
On the other hand, Pakistan’s export of goods and services to the United States (US) witnessed an increase of 9.39 percent during the first four months of the current fiscal year (2024-25) as compared to the exports of the corresponding months of last year, State Bank of Pakistan (SBP) reported.
The overall exports to the US were recorded at US $2.037 billion during July-October (2024-25) against exports of US $1.862 billion during July-October (2023-24), SBP data revealed.
On a year-to-year basis, the exports to the US also surged to $575.889 million in October 2024 against the export of $485.786 million in October 2023.
Meanwhile, on a month-on-month basis, the exports to the US witnessed an increase of 12.58 percent during October 2024 as compared to the exports of $511.525 million in September 2024, the SBP data revealed.
Mutib Khalid is a skilled content writer and digital marketer with a knack for crafting compelling narratives and optimizing digital strategies. Excel in creating engaging content that drives results and enhances online presence. Passionate about blending creativity with data-driven approaches, Mutib Khalid helps brands connect with their audience and achieve their goals.
