According to the State Bank of Pakistan (SBP), the opening rate of the interbank market in Pakistan today, on 5 September 2023, for the conversion of British Pound (GBP) to Pakistani Rupee (PKR) stands at Rs. 385.97.
The exchange rate between the Great Britain Pound (GBP) or British Pound and the Pakistani Rupee (PKR) is subject to constant fluctuations, which are determined by the interplay of supply and demand for foreign currency within the domestic market.
The State Bank of Pakistan (SBP) furnishes the daily closing interbank rate for the exchange of British Pound (GBP) to Pakistani Rupee (PKR) at the conclusion of each working day from Monday to Friday. Hence, it is advisable to revisit the currency exchange rate after the conclusion of the business day for the most up-to-date information.
In contrast, it is commonly observed that the exchange rate between the British Pound (GBP) and the Pakistani Rupee (PKR) in the informal market tends to be marginally higher than the interbank rate offered by financial institutions and foreign exchange entities when acquiring foreign currency from clients.
Additionally, it is worth noting that all remittances received by clients’ bank accounts are credited based on the interbank rates supplied by the State Bank of Pakistan (SBP).
On 5 September 2023, at the commencement of the working day, the exchange rate between the British Pound (GBP) and the Pakistani Rupee (PKR) stood at Rs. 385.97. It is anticipated that this rate will undergo fluctuations over the course of the day. The closing exchange rate for the British Pound to PKR will be updated at the conclusion of the business day.
Additionally, the closing interbank rate of the British Pound to Pakistani Rupee (GBP to PKR) in Pakistan on 5 September 2023 can be observed in the following table. The information provided is updated at the conclusion of the business day.
Furthermore, the table also includes the value increase or decrease (in Pakistani Rupees) relative to the preceding day.