Karachi, Pakistan – On Sunday, June 2, 2023, the exchange rate between the US Dollar and the Pakistani Rupee was Rs 287.5 to buy and Rs 290 to sell in both the local and open markets. But it’s important to remember that exchange rates can change based on where you are and which exchange company or bank you use. In this piece, we’ll look at the current foreign and local currency exchange rates for the US Dollar, UK Pound Sterling, European Euro, UAE Dirham, Saudi Riyal, and other major currencies on Pakistan’s open market. Please remember that these rates can change at any time because of how the market works and how much foreign cash people want.
Exchange Rates for Foreign and Local Money in Pakistan:
Here are the rates at which you can buy and sell some of the most important currencies on Pakistan’s open market:
US Dollar (USD):
- Price to buy is Rs 287.4
- Price to sell is Rs 290.15.
Euro
- Price to buy: Rs 313
- Selling Rate: Rs 316
UK Pound Sterling (GBP):
- Price to buy: Rs 366
- Price to sell: Rs 369
| Currency | Buying | Selling | |
| US Dollar | USD | 287.4 | 290.15 |
| Euro | EUR | 313 | 316 |
| UK Pound Sterling | GBP | 366 | 369 |
| U.A.E Dirham | AED | 79 | 79.7 |
| Saudi Riyal | SAR | 75.5 | 76.2 |
| Australian Dollar | AUD | 202 | 204 |
| Bahrain Dinar | BHD | 763.63 | 771.63 |
| Canadian Dollar | CAD | 226 | 228 |
| China Yuan | CNY | 40.28 | 40.58 |
| Danish Krone | DKK | 41.16 | 41.56 |
| Hong Kong Dollar | HKD | 36.6 | 36.95 |
| Indian Rupee | IND | 3.48 | 3.58 |
| Japanese Yen | JPY | 2 | 2.08 |
| Kuwaiti Dinar | KWD | 934.05 | 943.05 |
| Malaysian Ringgit | MYR | 62.42 | 63.02 |
| New Zealand Dollar | NZD | 179.06 | 181.06 |
| Norwegians Krone | NOK | 25.67 | 25.97 |
| Omani Riyal | OMR | 740.5 | 748.5 |
| Qatari Riyal | QAR | 78.37 | 79.07 |
| Singapore Dollar | SGD | 218 | 220 |
| Swedish Korona | SEK | 26.36 | 26.66 |
| Swiss Franc | CHF | 314.07 | 316.57 |
| Thai Bhat | THB | 8.21 | 8.36 |
Changes in the exchange rate:
It’s important to know that exchange rates aren’t always the same. Instead, they change all the time based on the supply and demand of the market. Currency values can be affected by things like the economy, interest rates, global events, and how investors feel. Changes in exchange rates are caused by these things, which can be both good and bad for people and companies that deal in foreign currencies.
As was already said, the above rates are correct as of 9:00 AM Pakistan Standard Time (PST). But it’s important to remember that these rates can change as market forces and the need for foreign cash change throughout the day. So, people and companies who deal with currency exchanges should check the current rates before starting any transactions.
Conclusion:
Exchange rates are a big part of international trade and banking, and they affect economies and people all over the world. The US Dollar to Pakistani Rupee exchange rate is carefully watched in Pakistan because it affects the country’s imports and exports, money sent home, and the economy as a whole. People and companies that do business in other countries need to be aware of the current exchange rates.
Even though the exchange rates in this piece show how things were on a certain day, it’s important to remember that they can change. To stay up-to-date on the latest rates, it’s best to look at reputable financial sources or talk to banks or exchange companies that are authorised to do so.
Remember that it’s important to make decisions based on good information when working with foreign currency exchanges. Knowing how the market works can help reduce risks and make transactions go as smoothly as possible.
