Explore the most recent currency rates in Pakistan as of January 1, 2024. Stay informed about the exchange values for the US Dollar, Euro, British Pound, Saudi Riyal, and UAE Dirham.
Overview of Current Rates
Today’s open market rates are as follows:
- US Dollar to PKR: Buying at 281.5 PKR, Selling at 284 PKR
- Euro to PKR: Buying at 309 PKR, Selling at 312 PKR
- British Pound to PKR: Buying at 358 PKR, Selling at 361.5 PKR
- UAE Dirham to PKR: Buying at 76.7 PKR, Selling at 77.5 PKR
- Saudi Riyal to PKR: Buying at 74.4 PKR, Selling at 75.15 PKR
For a detailed list, refer to the table below:
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar | 281.5 PKR | 284 PKR |
| Euro | 309 PKR | 312 PKR |
| British Pound | 358 PKR | 361.5 PKR |
| UAE Dirham | 76.7 PKR | 77.5 PKR |
| Saudi Riyal | 74.4 PKR | 75.15 PKR |
Significance of Open Market Rates
Open market rates hold great significance in providing an overall outlook of the latest situations and trends in key cities like Karachi, Lahore, Islamabad, and Peshawar. With free trade becoming common globally, it is crucial for Pakistani organizations to stay aware of Currency Rates in Pakistan.
Fluctuations in the Market
This week, the Pakistani rupee exchange rate in the open market experienced slight fluctuations. Foreign currency exchange rates in Pakistan change daily, influenced by various market factors. Today’s rates show the Dollar to PKR at 286, Euro at 309, British Pound to PKR at 361, and UAE Dirham at 78. The rates provided by Pakistani currency exchange traders are used to compute the USD/PKR exchange rate, with bank exchange rates for the US dollar slightly lower than those available on the open market or at currency exchanges.
Introduction to Currency Exchange
In addition to the buying and selling of products, currencies are exchanged between open markets of different nations. International banks, including Deutsche Bank, Barclays, HSBC, Standard Chartered, and Citi, play a pivotal role in setting the pace of currency rate exchange at the international level.
Where to Exchange Currency in Pakistan
For currency exchange in Pakistan, consider the following reputable institutions:
- Pakistan Currency Exchange Company (Pvt.) Ltd.
- NBP Exchange Company Ltd.
- HBL Currency Exchange (Pvt.) Ltd.
- AA Exchange Company (Pvt.) Ltd.
- Al-Rahim Exchange Company (Pvt.) Ltd.
- D.D Exchange Company (Pvt.) Ltd.
- Al-Hameed Int’l. Money Ex (Pvt.) Ltd.
- Al-Sahara Exchange Company (Pvt.) Ltd.
- Dollar East Exchange Company (Pvt.) Ltd.
- Fairdeal Exchange Company (Pvt.) Ltd.
- Money Link Exchange Company (Pvt.) Ltd.
- Glaxy Exchange Company (Pvt.) Ltd.
Factors Influencing Exchange Rates
Understanding the factors influencing exchange rates is crucial:
- Economic Growth: The growth rate and financial stability of any nation push up the exchange rate of its currency in the global market.
- Money Supply: If there is an excess money supply due to overprinting of currency, more money is available but goods to be acquired are fewer, leading to the devaluation of the currency.
- Government Policies: Trade, taxation, and international policies can influence exchange rates.
By using this page, you can easily access the latest currency rate in Pakistan, including USD to PKR open market rate and different currencies such as the Saudi Riyal to PKR rate, United Arab Emirates Dirham rate in Pakistan, Euro rate in Pakistan, and more. Stay updated with accurate information, as rates are subject to change