KARACHI: The State Bank of Pakistan (SBP) has published the latest mark-to-market (M2M) currency rates for major international currencies against the Pakistani Rupee (PKR) on November 13, 2025.These rates, essential for authorized foreign exchange dealers to revalue their books daily, are based on the weighted average of the closing interbank exchange rate for the US Dollar (USD) from brokerage houses, with other currencies’ rates derived from USD/PKR data and their USD exchange rates on LSEG Workspace.The US Dollar (USD) showed slight depreciation, trading at 280.7638 PKR in the spot market, with forward rates progressing to 292.9764 PKR for the one-year tenor. The Saudi Riyal (SAR) held steady at 74.8624 PKR for the spot rate, with its one-year forward at 77.5254 PKR. The United Arab Emirates Dirham (AED) was at 76.4399 PKR, rising to 79.8540 PKR over one year. The Qatari Riyal (QAR) opened at 77.0272 PKR in the spot market, climbing to 80.3512 PKR for the one-year tenor.The Kuwaiti Dinar (KWD) remained a powerhouse at 915.2259 PKR for the spot rate, with a one-year forward of 962.5666 PKR, highlighting sustained demand. The Euro (EUR) dipped to 326.1914 PKR in the spot market, with forward rates reaching 346.1923 PKR for one year. The Bahraini Dinar (BHD) stood at 744.6823 PKR, advancing to 773.6893 PKR in the one-year tenor. The British Pound (GBP) traded at 369.0360 PKR, with its one-year forward rate at 385.0152 PKR, reflecting consistent forward premium growth. The Turkish Lira (TRY) was recorded at 6.6452 PKR for the spot rate, decreasing to 5.1753 PKR over one year, indicating a depreciation trend in forward premiums.Analysts attribute the USD’s minor softening and the EUR’s slight decline to global economic fluctuations, while steady remittance inflows continue to support the PKR. Gulf currencies maintain their resilience, underpinned by stable regional economic conditions. The forward premiums suggest a cautious outlook for the PKR, with potential influences from global monetary policies, particularly from the US Federal Reserve.Other currencies’ spot rates included: Japanese Yen (JPY) at 1.8142 PKR, Swiss Franc (CHF) at 352.8958 PKR, Australian Dollar (AUD) at 184.7145 PKR, Canadian Dollar (CAD) at 200.6746 PKR, Swedish Krona (SEK) at 29.8214 PKR, Norwegian Krone (NOK) at 27.9013 PKR, Danish Krone (DKK) at 43.6796 PKR, Singapore Dollar (SGD) at 215.9141 PKR, New Zealand Dollar (NZD) at 159.3475 PKR, Malaysian Ringgit (MYR) at 68.0310 PKR, Hong Kong Dollar (HKD) at 36.1329 PKR, Indian Rupee (INR) at 3.1675 PKR, South African Rand (ZAR) at 16.5029 PKR, Omani Riyal (OMR) at 729.2567 PKR, Bangladeshi Taka (BDT) at 2.2976 PKR, Brazilian Real (BRL) at 53.0444 PKR, Argentine Peso (ARS) at 0.1993 PKR, Chinese Yuan (CNY) at 39.5634 PKR, Sri Lankan Rupee (LKR) at 0.9204 PKR, Thai Baht (THB) at 8.6991 PKR, Indonesian Rupiah (IDR) at 0.0168 PKR, Mexican Peso (MXN) at 15.3567 PKR, Russian Rubles (RUB) at 3.4830 PKR, South Korean Won (KRW) at 0.1918 PKR, and Offshore Chinese Yuan (CNH) at 39.5629 PKR. Notably, BDT, BRL, and ARS lacked forward rates beyond the spot market.Key Spot Rates (PKR)CurrencySpot Rate1-Year ForwardUSD280.7638292.9764EUR326.1914346.1923GBP369.0360385.0152SAR74.862477.5254AED76.439979.8540QAR77.027280.3512KWD915.2259962.5666BHD744.6823773.6893TRY6.64525.1753