Today Dollar Rate in Pakistan | 1 USD to PKR Live Price

Today Dollar Rate in Pakistan

Introduction of today dollar rate in Pakistan:

The exchange rate of the US Dollar to Pakistani Rupee (USD to PKR) is a matter of utmost importance for Pakistan’s economy and its citizens. It directly impacts the cost of living, international trade, and foreign investment. Today, we’ll explore the Dollar rate in Pakistan as of April 28 , 2024 and delve into the factors that influence these fluctuations.

Dollar Rate in Pakistan Today:

As of  May 2024, the Dollar rate in Pakistan stands at PKR 280.63 in the open market and PKR 279.86 in the interbank market. These rates are subject to daily fluctuations influenced by a variety of economic factors. It’s worth noting that the interbank rates tend to be slightly lower than the open market rates.

DateInterbank Buying Rate (PKR)Interbank Selling Rate (PKR)Open Market Buying Rate (PKR)Open Market Selling Rate (PKR)
279.86280.36280.1282.76

In the open market, the Dollar rate has also depreciated by PKR 1.00 to PKR 278.00, compared to the previous day’s rate of PKR 281.95.

Open Market Rates in Pakistan:

The open market in Pakistan is characterized by the free flow of trading with minimal barriers or restrictions. This means that goods and currencies can be bought and sold without significant government intervention. However, interest rates and other economic factors can still influence trade and currency exchange.

CurrencySellingBuying
US Dollar 280.1282.1
Euro307310
British Pound357.5360
UAE Dirham75.6577.40
Saudi Riyal74.7075.45
Kuwaiti Dinar916.46925.46
Canadian Dollar209211
Australian Dollar189191
Omani Riyal732.66740.66
Japanese Yen1.541.47
Malaysian Ringgit59.6859.08
Qatari Riyal77.1976.49
Bahrain Dinar743.94735.94
Thai Bhat7.837.68
Chinese Yuan38.3837.98

Conclusion:

The Dollar rate in Pakistan is a critical economic indicator that affects everything from international trade to the cost of living for ordinary citizens. Understanding the factors that drive these fluctuations is essential for businesses, investors, and individuals. The State Bank of Pakistan’s role in regulating and stabilizing the exchange rate is pivotal in maintaining economic stability in the country. It’s also important to keep an eye on global economic trends and government policies, as these factors can have a significant impact on the exchange rate.

General FAQs for live market dollar rate in Pakistan:

  1. What is the exchange rate of the US Dollar to Pakistani Rupee today?
    • The exchange rate of the US Dollar to Pakistani Rupee today is PKR 278.31 in the interbank market, as provided by the State Bank of Pakistan.
  2. Where can I find the most up-to-date Dollar rate in Pakistan?
    • You can find the most up-to-date Dollar rate in Pakistan through financial news sources, banks, or by checking online currency exchange rate websites.
  3. How do interbank and open market rates differ?
    • Interbank rates are the official rates set by the State Bank of Pakistan and are slightly higher, while open market rates are determined by currency exchange dealers and can vary, often being slightly lower.
  4. Is the Dollar rate in Pakistan subject to daily fluctuations?
    • Yes, the Dollar rate in Pakistan is subject to daily fluctuations due to various economic factors and market dynamics.
  1. What is the official rate of $1 in Pakistan according to the State Bank?
    • The official rate of $1 in Pakistan, as provided by the State Bank of Pakistan, is PKR 278.31.
  2. How much is 1 US Dollar to PKR in the open market?
    • 1 US Dollar is equivalent to PKR 279.25 in the open market, which may vary from the interbank rate.
  3. Can the Dollar rate in the open market differ from the interbank rate?
    • Yes, the Dollar rate in the open market can differ from the interbank rate. Interbank rates are slightly higher, while open market rates may be slightly lower due to market dynamics.
  4. Why is the Dollar rate important for Pakistan’s economy?
    • The Dollar rate is important for Pakistan’s economy because it impacts the cost of living, international trade, and foreign investment. It reflects the country’s economic stability.
  1. What is the significance of the open market in currency exchange?
    • The open market is important for currency exchange as it allows for the free flow of trading without significant government intervention, providing flexibility and accessibility.
  2. How often do exchange rates get updated in Pakistan?
    • Exchange rates in Pakistan are updated daily to reflect market changes and economic conditions.
  3. Are there any factors that may influence the exchange rate other than the State Bank’s rate?
    • Yes, factors such as supply and demand, government policies, global events, and interest rate differentials can influence exchange rates.
  1. Besides the US Dollar, what are the rates for other major currencies in Pakistan?
    • Rates for other major currencies, such as the Euro, British Pound, and more, can be found through currency exchange sources.
  2. What are the most commonly traded foreign currencies in Pakistan?
    • The US Dollar, Euro, British Pound, and UAE Dirham are among the most commonly traded foreign currencies in Pakistan.
  3. How do I check the exchange rate for a specific foreign currency?
    • You can check the exchange rate for a specific foreign currency by using currency conversion websites or contacting currency exchange dealers.
  1. What are some of the key factors that contribute to fluctuations in the exchange rate?
    • Factors such as inflation, government policies, trade deficits, and global economic trends can contribute to fluctuations in the exchange rate.
  2. How does the State Bank of Pakistan regulate the currency exchange rate?
    • The State Bank of Pakistan regulates the currency exchange rate by setting the interbank rate and occasionally intervening in the market to stabilize the Rupee.
  3. Can global economic trends impact the exchange rate in Pakistan?
    • Yes, global events like changes in oil prices, financial crises, and geopolitical tensions can influence the exchange rate in Pakistan.
  1. How can individuals and businesses use exchange rate information to make financial decisions?
    • Exchange rate information can help individuals and businesses in financial planning, especially for international trade, investments, and budgeting.
  2. What are the best practices for managing currency exchange risk in international trade?
    • Best practices include hedging strategies, using forward contracts, and staying informed about currency fluctuations to manage exchange rate risk.

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