Pakistan's Financial Markets Association issues Wednesday foreign exchange rates bulletin

The Exchange Rates Committee of the Financial Markets Association of Pakistan (FMAP) issued its regular foreign exchange rates bulletin on Wednesday, setting out conversion rates for foreign currency for forward cover and for deposits, excluding FE-25 deposits, with a State Bank of Pakistan settlement value date of October 2, 2026.

According to the bulletin, the US dollar was quoted at 277.0928 for the relevant settlement date. The bulletin also lists rates for other major foreign currencies, including the British pound, though the full breakdown of rates across all listed currencies was not detailed in the source excerpt.

A routine market publication

The bulletin is a regular publication issued by FMAP's Exchange Rates Committee, providing reference conversion rates used by banks, businesses and financial institutions operating in Pakistan for transactions involving forward cover and eligible foreign currency deposits. These rates are typically used as a benchmark for institutions managing foreign exchange exposure and are updated periodically to reflect movements in the currency markets.

Such bulletins form part of the routine financial reporting carried out by Pakistan's foreign exchange market institutions, offering transparency on the reference rates being applied for specific settlement dates and currency categories, and are closely tracked by businesses engaged in international trade and finance.