Foreign exchange rates displayed varying spreads across major currencies in the open market today, with notable differences observed compared to interbank valuations, according to data released by the Exchange Companies Association of Pakistan.
The British Pound (GBP) and the Euro (EURO) recorded the widest buying and selling price differentials among the major international currencies. The Euro was quoted at a buying rate of USD 327.44 and a selling rate of USD 330.74, reflecting a spread of USD 3.30.
Similarly, the Pound Sterling fetched USD 376.88 for buying and USD 380.52 for selling, indicating a substantial spread of USD 3.64 for retail transactions.
The US Dollar (USD) was traded with a buying rate of USD 279.31 and a selling rate of USD 280.17, showing a margin of USD 0.86. This contrasts with the much tighter interbank market, where the dollar”s buying rate stood at USD 278.87 and its selling rate at USD 279.07, a mere USD 0.20 difference.
Among other currencies, the Japanese Yen (JPY) was valued at a buying rate of USD 1.74 and a selling rate of USD 1.79. The UAE Dirham (AED) registered buying at USD 76.03 and selling at USD 76.87.
The Saudi Riyal (SR) was quoted at a buying price of USD 74.25 and a selling price of USD 75.02, reflecting consistent spreads for these regional tenders. The figures underscore the operational costs and profit margins within the exchange company sector.