Governor State Bank inaugurates AL Habib Exchange Company

05:36 PM | 26 Mar, 2024
Governor State Bank inaugurates AL Habib Exchange Company

KARACHI—AL Habib Exchange Company (Private) Limited officially commenced operations in ten branches in four cities in Pakistan: Karachi, Lahore, Islamabad, and Peshawar. 

Following Bank AL Habib's announcement in September last year, the Board of Directors unanimously approved the establishment of an Exchange Company as a wholly-owned subsidiary with an authorized capital of PKR 1 Billion. With the issuance of licenses from the State Bank of Pakistan and the Certificate of Incorporation from the Securities and Exchange Commission of Pakistan (SECP), AL Habib Exchange received the green light to initiate its operations.

AL Habib Exchange is an initiative by Bank AL Habib that aligns with the State Bank of Pakistan's structural reforms within the Exchange Companies sector and aims to cater to its customers' genuine foreign exchange needs. 

The main branch of AL Habib Exchange was inaugurated by the Honorable Governor of the State Bank of Pakistan, Mr Jameel Ahmed, in the presence of Mr Abbas D Habib, Founder Member and Chairman of Bank AL Habib, Mr. Qumail R. Habib, Executive Director of Bank AL Habib, Mr. Mansoor Ali Khan, Chief Executive of Bank AL Habib, Syed Furqan, Chief Executive Officer of AL Habib Exchange, and Senior officials from SBP, Bank AL Habib, and AL Habib Exchange.

This occasion marks the beginning of a new era in foreign exchange services, as AL Habib Exchange endeavors to set new standards of excellence and reliability in the industry.

Daily Pakistan Global Web Desk


Pakistani rupee exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 18 May 2024 Forex Rates

Pakistani currency rates against US Dollar and other currencies on May 18, 2024 (Saturday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.4 for buying and 280.35 for selling.

Euro stands at 297 for buying and 299.5 for selling while British Pound rate is 348.5 for buying, and 352 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal came down to 73.50.

Today’s currency exchange rates in Pakistan - 18 May 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.4 280.35
Euro EUR 297 299.5
UK Pound Sterling GBP 348.5 352
U.A.E Dirham AED 75.25 76
Saudi Riyal SAR 73.5 74.25
Australian Dollar AUD 181 183
Bahrain Dinar BHD 747.77 755.77
Canadian Dollar CAD 203 205
China Yuan CNY 38.49 38.89
Danish Krone DKK 40.25 40.65
Hong Kong Dollar HKD 35.96 36.31
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 913.28 922.28
Malaysian Ringgit MYR 58.69 59.29
New Zealand Dollar NZD 169.45 171.45
Norwegians Krone NOK 25.67 25.97
Omani Riyal OMR 730.59 738.59
Qatari Riyal QAR 76.41 77.11
Singapore Dollar SGD 203 205
Swedish Korona SEK 25.67 25.97
Swiss Franc CHF 309.01 311.51
Thai Bhat THB 7.57 7.72


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