On the 2nd of March, 2024, the financial hub of Pakistan, Karachi, witnessed the US Dollar being exchanged at Rs 279.4 for buying and Rs 282.3 for selling in the vibrant local and open markets. It’s pivotal to recognize that exchange rates are prone to fluctuate depending on various factors such as the location and the financial institutions involved.
The foreign exchange market showcased diverse rates for major global currencies. Notably, the Euro was traded at Rs 302.5 for buying and Rs 305.5 for selling. The UK Pound Sterling also made its mark with a buying rate of Rs 354 and a selling rate of Rs 359. The Middle Eastern currencies, the UAE Dirham and the Saudi Riyal were exchanged at Rs 76.15 and Rs 74.4 for buying, respectively, with their selling rates slightly higher.
Detailed Currency Exchange Insights
The forex market in Pakistan is influenced by global economic trends, political events, and market demand. For investors and financial analysts, understanding these rates is crucial for making informed decisions. Currency rates are not static and are influenced by a myriad of factors, making the forex market a dynamic field for investment and economic analysis.
| Currency | Buying Rate (Rs) | Selling Rate (Rs) |
|---|---|---|
| US Dollar (USD) | 279.4 | 282.3 |
| Euro (EUR) | 302.5 | 305.5 |
| UK Pound Sterling (GBP) | 354 | 359 |
| U.A.E Dirham (AED) | 76.15 | 76.85 |
| Saudi Riyal (SAR) | 74.4 | 75.2 |
| Australian Dollar (AUD) | 181 | 183 |
| Bahrain Dinar (BHD) | 743 | 751 |
| Canadian Dollar (CAD) | 207 | 209 |
| China Yuan (CNY) | 38.89 | 39.04 |
| Danish Krone (DKK) | 40.38 | 41.06 |
| Hong Kong Dollar (HKD) | 35.74 | 36.22 |
| Indian Rupee (IND) | 3.39 | 3.48 |
| Japanese Yen (JPY) | 1.90 | 2.00 |
| Kuwaiti Dinar (KWD) | 902 | 911 |
| Malaysian Ringgit (MYR) | 58.48 | 59.08 |
| New Zealand Dollar (NZD) | 177.84 | 179.84 |
| Norwegians Krone (NOK) | 25.02 | 25.32 |
| Omani Riyal (OMR) | 727 | 730 |
| Qatari Riyal (QAR) | 77.04 | 77.74 |
| Singapore Dollar (SGD) | 207 | 209 |
| Swedish Korona (SEK) | 25.98 | 26 |
| Swiss Franc (CHF) | 320.98 | 323.48 |
| Thai Bhat (THB) | 7.76 | 7.91 |
As we navigate through the forex rates of March 2, 2024, stakeholders need to stay informed about the latest trends and fluctuations. Whether it’s for investment purposes, travel, or personal finance management, keeping abreast of the currency exchange rates can aid in making strategic decisions in an ever-changing economic landscape.