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 October 15, 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 281.1228 PKR in the spot market, with forward rates progressing to 293.4371 PKR for the one-year tenor. The Saudi Riyal (SAR) held steady at 74.9581 PKR for the spot rate, with its one-year forward at 77.6658 PKR. The United Arab Emirates Dirham (AED) was at 76.5377 PKR, rising to 79.9730 PKR over one year. The Qatari Riyal (QAR) opened at 77.1256 PKR in the spot market, climbing to 80.4598 PKR for the one-year tenor.The Kuwaiti Dinar (KWD) remained a powerhouse at 916.1422 PKR for the spot rate, with a one-year forward of 963.4818 PKR, highlighting sustained demand. The Euro (EUR) dipped to 327.1848 PKR in the spot market, with forward rates reaching 347.2563 PKR for one year. The Bahraini Dinar (BHD) stood at 745.7036 PKR, advancing to 774.7728 PKR in the one-year tenor. The British Pound (GBP) traded at 375.4395 PKR, with its one-year forward rate at 390.9667 PKR, reflecting consistent forward premium growth.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 1.8586 PKR, Swiss Franc (CHF) at 351.6233 PKR, Australian Dollar (AUD) at 183.2358 PKR, Canadian Dollar (CAD) at 200.1800 PKR, Swedish Krona (SEK) at 29.6440 PKR, Norwegian Krone (NOK) at 27.8364 PKR, Danish Krone (DKK) at 43.8091 PKR, Singapore Dollar (SGD) at 217.0246 PKR, New Zealand Dollar (NZD) at 160.9428 PKR, Malaysian Ringgit (MYR) at 66.5065 PKR, Hong Kong Dollar (HKD) at 36.1517 PKR, Indian Rupee (INR) at 3.1837 PKR, South African Rand (ZAR) at 16.2666 PKR, Omani Riyal (OMR) at 730.1512 PKR, Bangladeshi Taka (BDT) at 2.3091 PKR, Brazilian Real (BRL) at 51.2670 PKR, Argentine Peso (ARS) at 0.2071 PKR, Chinese Yuan (CNY) at 39.4586 PKR, Sri Lankan Rupee (LKR) at 0.9286 PKR, Thai Baht (THB) at 8.6646 PKR, Turkish Lira (TRY) at 6.7210 PKR, Indonesian Rupiah (IDR) at 0.0170 PKR, Mexican Peso (MXN) at 15.2359 PKR, Russian Rubles (RUB) at 3.5671 PKR, South Korean Won (KRW) at 0.1978 PKR, and Offshore Chinese Yuan (CNH) at 39.4403 PKR. As usual, BDT, BRL, and ARS have no forward rates beyond spot.These rates are sourced from State Bank of Pakistan’s official press release