# Pound hits highest level since Brexit vote as Bank of England decides on rate rise today at 5pm PKT

Source: Searchable (https://searchable.pk/news/world/pound-hits-highest-level-since-brexit-vote-as-bank-of-england-decides-on-rate)
Type: News article
Author: Searchable Editorial
Published: 5 Nov 2026
Updated: 5 Nov 2026
Retrieved: 5 Nov 2026

> Sterling's trade-weighted index reached 86.4, its joint best since June 2016, and a first UK rate rise in over three years is expected at 12:00 GMT. What it means for the pound rate in Pakistan.

**The British pound has risen to its highest overall level since the Brexit referendum of June 2016**, the BBC reported, ahead of a Bank of England decision on Thursday at **12:00 GMT (5pm Pakistan time)** that most analysts expect to bring the first UK interest rate rise in more than three years. In Pakistan the pound is at about **Rs 372.76**, up from Rs 371.21 a day earlier ([pound rate today](/data/gbp-pkr)).

## The numbers

- **Trade-weighted index:** 86.4 on the Bank of England's measure against 18 major currencies (2005 = 100), its joint highest since the referendum. The Bank confirms the figure on Thursday.
- **Against the dollar:** up 0.28% at **$1.3434** late on Wednesday.
- **Against the euro:** flat at **€1.1996**.
- **UK inflation:** 3.5% in the year to September, up from 3.1% and well above the 2% target, driven mainly by petrol and diesel costs from the Iran war.

## What the Bank of England is expected to do

Most analysts expect the Monetary Policy Committee to raise **Bank Rate from 3.75% to 4%**, the BBC reported. The rate has been unchanged for six meetings and was last raised in August 2023; it peaked at 5.25% in 2023-24. A rise makes mortgages and loans dearer in the UK but pays savers more. Traders said investors now see the UK in a better light because of political stability, solid growth and closer ties with the EU, though higher fuel prices have dented consumer confidence.

## What it means in Pakistan

The UK is one of the biggest sources of remittances to Pakistan, and a stronger pound means each pound sent home buys more rupees.

| Sent from the UK | At Rs 371.21 (Wednesday) | At Rs 372.76 (Thursday) |
|---|---|---|
| £100 | Rs 37,121 | Rs 37,276 |
| £500 | Rs 185,605 | Rs 186,380 |
| £1,000 | Rs 371,210 | Rs 372,760 |

These are reference rates; banks and exchange companies add their own margin. Convert any amount with our [currency converter](/tools/finance/currency-converter).

The flip side is cost. UK university fees, visa fees paid in sterling and travel to Britain all get dearer in rupees as the pound rises. A family paying a £20,000 tuition bill now needs about Rs 31,000 more than it did a day earlier.

## What to watch

If the Bank raises rates and signals more to come, the pound could climb further; a cautious message could take some of the gain back. We will update the [pound rate page](/data/gbp-pkr) after the decision.

## Frequently asked questions

**What is the pound rate in Pakistan today?**

About Rs 372.76 on 5 November 2026, up from Rs 371.21 the day before, on Searchable's reference series. Banks and exchange companies add their own margin.

**What time is the Bank of England decision in Pakistan?**

The decision is due at 12:00 GMT on Thursday 5 November 2026, which is 5pm Pakistan time.

## Sources

- Pound rises to its highest level since the Brexit referendum (4 Nov 2026) (BBC News): https://www.bbc.co.uk/news/articles/c6lykq2qjn2vo
- Interest rates expected to rise for first time in over three years (5 Nov 2026) (BBC News): https://www.bbc.co.uk/news/articles/ck5ynw45jrgqo

How to cite: "Pound hits highest level since Brexit vote as Bank of England decides on rate rise today at 5pm PKT", Searchable, 5 Nov 2026, https://searchable.pk/news/world/pound-hits-highest-level-since-brexit-vote-as-bank-of-england-decides-on-rate