On Wednesday, January 28, 2026, the Pakistani Rupee (PKR) showed relative stability in both the interbank and open markets, following the State Bank of Pakistan’s (SBP) recent decision to maintain the policy rate at 10.5%.
According to data compiled from Forex.pk and official bank rate sheets, here are the latest exchange rates for major foreign currencies in Pakistan.
Interbank & Open Market Exchange Rates (Jan 28, 2026)
| Currency | Interbank (Buying/Selling) | Open Market (Buying/Selling) |
| US Dollar (USD) | Rs 279.54 / Rs 279.97 | Rs 280.30 / Rs 280.85 |
| British Pound (GBP) | Rs 382.56 / Rs 385.59 | Rs 383.00 / Rs 387.50 |
| Euro (EUR) | Rs 331.92 / Rs 333.86 | Rs 332.50 / Rs 337.00 |
| Saudi Riyal (SAR) | Rs 74.62 / Rs 74.77 | Rs 74.85 / Rs 75.60 |
| UAE Dirham (AED) | Rs 76.12 / Rs 76.18 | Rs 76.50 / Rs 77.50 |
-
USD Stability: The US Dollar remained largely range-bound in the interbank market, hovering near the Rs 280 mark. The weighted average rate for revaluation was recorded at Rs 279.82, a marginal change from the previous session.
-
GBP Gains: The British Pound saw a notable increase, with interbank rates climbing toward Rs 385.59. This reflects a nearly 0.84% rise compared to the start of the week, driven by global currency shifts.
-
SBP Policy Impact: Analysts suggest the SBP’s “hawkish” stance—keeping interest rates at 10.5%—has helped provide a floor for the Rupee, preventing aggressive depreciation despite record-high international gold and oil prices.
-
Remittance Season: Traders in the open market noted steady supply, though demand for the Saudi Riyal and UAE Dirham remains high due to travel and seasonal remittance patterns.
Note: Forex rates in the open market can vary slightly between different exchange companies and cities like Karachi, Lahore, and Islamabad. Rates are typically updated by 11:00 AM and again at 4:00 PM
