Understanding Today’s Dollar Rate in Pakistan
In the dynamic realm of Currency Exchange Rates, staying informed about the latest rates is paramount. As of January 16, 2024, the Dollar Rate in Pakistan stands at PKR 280.2 in the open market, with slight variations in the interbank rates. For a precise breakdown:
USD to PKR Interbank Rates
Buying: PKR 279.74
Selling: PKR 280.24
Dollar to PKR Open Market Rates
Buying: PKR 280.2
Selling: PKR 282.35
Currency Rates Snapshot
Here’s a quick overview of other major currencies in the Pakistani market:
CURRENCY | BUY | SELL |
US Dollar | 280.2 | 282.35 |
Euro | 304 | 307 |
British Pound | 354 | 357.5 |
UAE Dirham | 76.2 | 78 |
Saudi Riyal | 74.25 | 75 |
Kuwaiti Dinar | 910.88 | 919.88 |
Canadian Dollar | 207.5 | 209.5 |
Australian Dollar | 186 | 187.85 |
Omani Riyal | 727.21 | 735.21 |
Japanese Yen | 1.94 | 2.04 |
Malaysian Ringgit | 60.38 | 60.98 |
Qatari Riyal | 77.08 | 77.78 |
Bahrain Dinar | 744.59 | 752.59 |
Thai Bhat | 8.03 | 8.18 |
Chinese Yuan | 39.2 | 39.6 |
Hong Kong Dollar | 35.87 | 36.22 |
Danish Krone | 41.09 | 41.49 |
New Zealand Dollar | 175.2 | 177.2 |
Singapore Dollar | 208.5 | 210.5 |
Norwegians Krone | 27.15 | 27.45 |
Swedish Krona | 27.28 | 27.58 |
Swiss Franc | 327.42 | 329.92 |
Indian Rupee | 3.39 | 3.5 |
Open Market Insights
Importance of Open Market Rates
In the ever-evolving landscape of global trade, open market rates in Pakistan play a pivotal role. They offer a comprehensive outlook on the prevailing market conditions, particularly in key cities like Karachi, Lahore, Islamabad, and Peshawar.
Weekly Fluctuations
The Pakistani rupee experienced slight fluctuations this week, a testament to the dynamic nature of foreign currency exchange rates. Daily fluctuations are influenced by market dynamics and various determining factors.
Today’s Rates
As of today, the open market rates showcase USD to PKR at 283, Euro at 311, and the British Pound at 361. Additionally, the UAE Dirham is valued at 77. These rates, provided by Pakistani currency exchange traders, are crucial in computing the USD/PKR exchange rate.
Unveiling the World of Currency Exchange
The Role of Global Banks
International banks such as Deutsche Bank, Barclays, HSBC, and Standard Chartered play a pivotal role in determining the global currency exchange rates. These institutions fix the pace of currency rate exchange on an international scale.
Key Exchange Entities in Pakistan
For those seeking currency exchange services in Pakistan, several reputable entities stand out, including:
1- Pakistan Currency Exchange Company (Pvt.) Ltd.
2- NBP Exchange Company Ltd.
3- HBL Currency Exchange (Pvt.) Ltd.
4- AA Exchange Company (Pvt.) Ltd.
5- Al-Rahim Exchange Company(Pvt.) Ltd.
6- D.D Exchange Company (Pvt.) Ltd.
7- Al-Hameed Int’l. Money Ex (Pvt.) Ltd.
8- Al-Sahara Exchange Company (Pvt.) Ltd.
9- Dollar East Exchange Company (Pvt.) Ltd.
10- Fairdeal Exchange Company (Pvt.) Ltd.
11- Money Link Exchange Company (Pvt.) Ltd.
12- Glaxy Exchange Company (Pvt.) Ltd.
Factors Influencing Exchange Rates
Economic Growth and Stability
The exchange rate of a currency is directly influenced by the economic growth rate and financial stability of a country. A robust economy contributes to a higher currency exchange rate on the global stage.
Money Supply Dynamics
Overprinting currency can lead to an excess supply of money with fewer goods available for purchase. This scenario often results in the devaluation of the currency, lowering its exchange rate.
Economic Impact
Correlation Between Exchange Rates and Economic Growth
There exists a direct correlation between a country’s currency exchange rate and its economic growth. A higher currency exchange rate signifies greater economic prosperity.
Accessing Real-Time Rates
By utilizing platforms like this one, you gain easy access to the latest currency rates in Pakistan, including USD to PKR open market rates and rates for other currencies like the Saudi Riyal, United Arab Emirates Dirham, and Euro. Stay informed to navigate the intricate world of currency exchange effectively.
Conclusion
In conclusion, mastering Currency Exchange Rates in Pakistan involves a keen understanding of today’s rates, the open market dynamics, the role of global banks, influential factors, and the economic impact of exchange rates. Stay informed, and navigate the financial landscape with confidence.