Today Forex Rates in Pakistan - PKR Foreign Exchange Rates

Urdu
Currency Symbol Buying
Australian Dollar AUD 94.73 PKR
Canadian Dollar CAD 102.13 PKR
Euro EUR 153.29 PKR
Japanese Yen JPY 1.19 PKR
Pakistan Rupee PKR 1.00 PKR
U.A.E Dirham AED 36.38 PKR
UK Pound Sterling GBP 173.45 PKR
US Dollar USD 133.61 PKR
Afghanistan Afghanis AFN 1.77 PKR
Albania Leke ALL 1.23 PKR
Algeria Dinars DZD 1.12 PKR
Argentina Pesos ARS 3.65 PKR
Bahamas Dollars BSD 133.61 PKR
Bahrain Dinar BHD 355.35 PKR
Bangladesh Taka BDT 1.59 PKR
Barbados Dollars BBD 66.81 PKR
Bermuda Dollars BMD 133.61 PKR
Brazil Reais BRL 36.15 PKR
Bulgaria Leva BGN 78.38 PKR
CFA BCEAO Francs XOF 0.23 PKR
CFA BEAC Francs XAF 0.23 PKR
Chile Pesos CLP 0.20 PKR
China Yuan CNY 19.26 PKR
Colombia Pesos COP 0.04 PKR
Comptoirs Francais du Pacifique Francs XPF 1.28 PKR
Costa Rica Colones CRC 0.23 PKR
Croatia Kuna HRK 20.64 PKR
Czech Republic Koruny CZK 5.95 PKR
Danish Krone DKK 20.55 PKR
Dominican Republic Pesos DOP 2.73 PKR
East Caribbean Dollars XCD 49.44 PKR
Egypt Pounds EGP 7.46 PKR
Estonia Krooni EEK 133.61 PKR
Fiji Dollars FJD 62.32 PKR
Hong Kong Dollar HKD 17.04 PKR
Hungary Forint HUF 0.48 PKR
Iceland Kronur ISK 1.13 PKR
IMF Special Drawing Rights XDR 185.74 PKR
Indian Rupee INR 1.82 PKR
Indonesia Rupiahs IDR 0.01 PKR
Iran Rials IRR 0.00 PKR
Iraq Dinars IQD 0.11 PKR
Israel New Shekels ILS 36.39 PKR
Jamaica Dollars JMD 1.00 PKR
Jordan Dinars JOD 188.45 PKR
Kenya Shillings KES 1.32 PKR
Kuwaiti Dinar KWD 440.32 PKR
Lebanon Pounds LBP 0.09 PKR
Malaysian Ringgit MYR 32.09 PKR
Mauritius Rupees MUR 3.87 PKR
Mexico Pesos MXN 6.92 PKR
Morocco Dirhams MAD 14.08 PKR
New zealand Dollars NZD 87.55 PKR
Norwegians Krone NOK 16.12 PKR
Omani Riyal OMR 347.50 PKR
Peru Nuevos Soles PEN 40.07 PKR
Philippines Pesos PHP 2.48 PKR
Poland Zlotych PLN 35.67 PKR
Qatari Riyal QAR 36.71 PKR
Romania New Lei RON 32.87 PKR
Russia Rubles RUB 2.04 PKR
Saudi Riyal SAR 35.63 PKR
Singapore Dollar SGD 96.97 PKR
Slovakia Koruny SKK 133.61 PKR
South Africa Rand ZAR 9.38 PKR
South Korea Won KRW 0.12 PKR
Sri Lanka Rupees LKR 0.77 PKR
Sudan Pounds SDG 7.40 PKR
Swedish Korona SEK 14.81 PKR
Swiss Franc CHF 134.30 PKR
Taiwan New Dollars TWD 4.32 PKR
Thai Bhat THB 4.07 PKR
Trinidad and Tobago Dollars TTD 19.82 PKR
Tunisia Dinars TND 46.98 PKR
Turkey New Lira TRY 23.24 PKR
Venezuela Bolivares Fuertes VEF 13.38 PKR
Vietnam Dong VND 0.01 PKR
Zambia Kwacha ZMK 133.61 PKR
Open Market Forex Rates Inter Bank Forex Rates

Foreign Exchange Rates in Pakistan

Getting one currency in exchange for another or the change of one currency into another currency is called foreign exchange. The term foreign exchange may also make reference to the giant open markets in the world where currencies are exchanged and traded constantly 24/7. These open markets are more commonly known as Foreign Exchange Markets or Forex / FX. Foreign Exchange Markets are involved in selling and buying of multiple currencies at fixed on prices.

How Foreign Exchange Works?

Since foreign exchange is another term for exchange of currency, it takes place when people belonging to one country purchase or sell currency while traveling to other places. Exchange rate of currency is regulated by foreign exchange traders. Since foreign exchange involves global trading of currencies, investors from around the world also buy currency of economically stable countries either to buy/ sell goods or services or to save it in banks to receive duly interest on it.

What Promotes Foreign Exchange?

With the recent escalation in globalization, the rate of foreign exchange in global markets is getting more and more every day. People traveling around the world, getting their currencies exchanged at the airport in other words are involved in foreign exchange as well. Besides that, huge corporations, financial organizations and governments of different countries make and receive transactions worth billions of dollars on routine basis, promoting foreign exchange. Besides the acquisition of currency, the global transactions / dealings may cover import and export of goods between markets of different countries.

Participants of Foreign Exchange

The largest foreign exchange and trading markets in the world are in Singapore, New York, Sydney, Frankfurt, Tokyo, Hong Kong and London. As for the participation in the foreign exchange market, more prominent are the substantial international banks like JP Morgan, Barclays, HSBC, UBS, Citi, Deutsche Bank etc, collectively called interbank market. Throughout the week, trading is kept ongoing by financial markets around the world. Basically international banks are in constant connection with smaller financial firms generally referred as ‘dealers’ who are responsible for foreign exchange trading among international markets.

Fixing of Exchange Rate

The daily exchange rate is usually fixed by National Bank of every country. This process is known as foreign exchange fixing. The fixed rates set by traders, banks and dealers give stability to the market and are seen as an indicator to trend in the international market. Sometimes the banks do not attain their goal due to which stability in the market is disturbed

Elements Affecting Foreign Exchange Rate

Following are the factors affecting foreign exchange rates;

  • If economy of a country is stable then that country’s currency value is high. More international markets acquire that currency.
  • Lower inflation rate of a country tends to increase its currency exchange rate worldwide.
  • The unbalanced trade between countries increases foreign exchange rates. It means if a country is making less money on its exports and spending more on its imports then it devalues the currency hence affecting foreign exchange rates.
  • If a country has more public debts then it engages less foreign investors leading to lower foreign exchange rates.
  • The political and financial stability of a country gives boost to its foreign exchange rates worldwide.
  • Increasing terms of trade between countries result in escalating revenues made from exports. As a result foreign exchange rates also go up.

Different Interbank Rates

Usually the global banks have to put up with the clients withdrawal and payments and to liquefy their assets, they in return put added interest on trading of currency. So whenever you buy currency from a bank, it would cost you more than buying it from an open market. Purchase of currency from bank suits more to investors who plan to save money in that bank so that they would get it back with added interest.

Situation in Pakistan

In Pakistan, foreign exchange rates are constantly soaring because economy of our country is unstable at the moment which keeps on devaluing Pakistani Rupee. For exchange of high valued currencies like Dinar, Dollar and Pound, Euro etc Pakistanis get lesser amount in return. The more in benefit are the investors who keep money in international banks and get doubled or tripled amount back.

Today (24 Oct 2018) Current Forex / Foreign exchange rates in Pakistan. Current rate of US Dollar USD To PKR is 133.61 Rs, Australian Dollar AUD To PKR is 94.73 Rs, Canadian Dollar CAD To PKR is 102.13 Rs, Euro EUR To PKR is 153.29 Rs, Japanese Yen JPY To PKR is 1.19 Rs, U.A.E Dirham AED To PKR is 36.38 Rs, UK Pound Sterling GBP To PKR is 173.45 Rs, China Yuan CNY To PKR is 19.26 Rs, Saudi Riyal SAR To PKR is 35.63 Rs.