Understanding currency rates is essential for anyone, especially in a country like Pakistan, where open market rates play a crucial role in the financial landscape. As of December 18, 2023, the latest currency rates in the open market are as follows:
Key Currency Rates in Pakistan Today
The current exchange rates according to the Forex Association of Pakistan are as follows:
- US Dollar to PKR: 286.20
- Euro to PKR: 313.00
- British Pound to PKR: 365.00
- Saudi Riyal to PKR: 76.40
- UAE Dirham to PKR: 78.40
Detailed Currency Rates in Pakistan Open Market
Here is a detailed list of buying and selling rates for major currencies in the open market:
| CURRENCY | BUY | SELL |
|---|---|---|
| US Dollar | 283.4 | 286.2 |
| Euro | 310 | 313 |
| British Pound | 361 | 365 |
| UAE Dirham | 77.7 | 78.4 |
| Saudi Riyal | 75.7 | 76.4 |
Understanding Open Market Currency Rates
When discussing exchange rates in Pakistan, the open market rates hold significant importance. These rates provide a comprehensive view of the current financial situation in key cities such as Karachi, Lahore, Islamabad, and Peshawar.
Today’s open market rates include:
- Dollar to PKR: 286
- Euro to PKR: 309
- British Pound to PKR: 361
- UAE Dirham to PKR: 78
How Exchange Rates Impact the Economy
Currency exchange is not just about buying and selling goods; it’s a global process involving international banks like Deutsche Bank, Barclays, HSBC, Standard Chartered, and Citi. In Pakistan, various currency exchange companies facilitate the process, including Dollar East Exchange Company, Fairdeal Exchange Company, and more.
Factors influencing exchange rates include:
- Economic Growth: A country’s economic growth and financial stability impact its currency’s exchange rate globally.
- Money Supply: Overprinting of currency can lead to an excess supply, resulting in currency devaluation.
Accessing Currency Rates in Pakistan
To stay informed about the latest currency rates, you can refer to this page regularly. It provides real-time information on USD to PKR open market rates and other currencies like Saudi Riyal to PKR, UAE Dirham rate in Pakistan, Euro rate in Pakistan, and more.
In conclusion, keeping an eye on currency rates is crucial for individuals and businesses alike. Stay updated with the latest information to make informed financial decisions.