LAHORE – The buying rate of Canadian strengthened against Pakistani rupee in open market where it stood at Rs205 on Tuesday.
The selling rate of the Canadian Dollar also surged and stood at Rs210 reflecting its dominance over the local currency.
The local currency rates reflect ongoing trend in the forex market influenced by regional demand, remittance inflows, and overall economic sentiments.
As of August 5, they buying rate of the Canadian dollar stands at Rs205. It means an individual can convert $1000 CAD for Rs205,000 in open market.
Remittances sent by overseas Pakistanis play a crucial role in supporting the national economy. They provide a stable source of income for millions of families, helping them meet basic needs such as food, healthcare, and education.
Pakistan recorded workers’ remittances inflow of $3.4 billion in June 2025.
According to the data released by the State Bank of Pakistan (SBP) on Wednesday, workers’ remittances increased by 7.9 per cent on a year-on-year basis.
During fiscal year 2024-25, workers’ remittances rose by 26.6 per cent to $8.3 billion as compared with $30.3 billion in 2023-24.
Remittances during June 2025 were mainly sourced from Saudi Arabia ($823.2 million), United Arab Emirates ($717.2 million), United Kingdom ($537.6 million) and United States of America ($281.2 million).
