KARACHI – UK Pound (GBP sterling) buying rate in Pakistan stands at Rs346.84 while the selling rate is Rs351.13 in the open market on Monday.
The British pound did not record any change on first day of the business week. However, it can fluctuate by the closing timing of the market.
The currency code for the British Pound Sterling is GBP, which is the official currency of the United Kingdom. The pound sign (£) is used for the British Pound Sterling, also known as “sterling.”
GBP to PKR Rate Today
As of February 03, the pound buying rate stands at Rs346.84 in the open market. So, the 1,000 pounds will be equal to Rs346,840 in Pakistani currency.
Over 1.5 million Pakistani expatriates reside in the United Kingdom. These expatriates send remittances back to their families in Pakistan and closely monitor the exchange rate.
The remittances are considered a major contributor to foreign reserves, which are necessary for importing necessary items from foreign countries and repayment of international debt.
As of January 24, 2025, the total liquid foreign reserves of Pakistan stood at $16,052.1 million while the SBP reserves recorded as $ 11,372.4 million.
The State Bank of Pakistan said the liquid foreign exchange reserves held by the central bank “decreased by US$ 76 million to US$ 11,372.4 million due to external debt repayments” during the week ended on January 24, 2025. However, the reserves held by commercial banks stood at $4,679.7 million.
