Today Forex Rates in Pakistan - PKR Foreign Exchange Rates

Urdu
Currency Symbol Buying
Australian Dollar Australian Dollar AUD 143.12 PKR
Canadian Dollar Canadian Dollar CAD 157.05 PKR
Euro Euro EUR 214.21 PKR
Japanese Yen Japanese Yen JPY 1.57 PKR
U.A.E Dirham U.A.E Dirham AED 54.48 PKR
UK Pound Sterling UK Pound Sterling GBP 252.33 PKR
US Dollar US Dollar USD 200.09 PKR
Afghanistan Afghanis Afghanistan Afghanis AFN 2.25 PKR
Albania Leke Albania Leke ALL 1.78 PKR
Algeria Dinars Algeria Dinars DZD 1.37 PKR
Argentina Pesos Argentina Pesos ARS 1.67 PKR
Bahamas Dollars Bahamas Dollars BSD 200.09 PKR
Bahrain Dinar Bahrain Dinar BHD 532.17 PKR
Bangladesh Taka Bangladesh Taka BDT 2.29 PKR
Barbados Dollars Barbados Dollars BBD 100.05 PKR
Bermuda Dollars Bermuda Dollars BMD 200.09 PKR
Brazil Reais Brazil Reais BRL 42.31 PKR
Bulgaria Leva Bulgaria Leva BGN 109.53 PKR
CFA BCEAO Francs CFA BCEAO Francs XOF 0.33 PKR
CFA BEAC Francs CFA BEAC Francs XAF 0.33 PKR
Chile Pesos Chile Pesos CLP 0.24 PKR
China Yuan China Yuan CNY 29.87 PKR
Colombia Pesos Colombia Pesos COP 0.05 PKR
Comptoirs Francais du Pacifique Francs Comptoirs Francais du Pacifique Francs XPF 1.80 PKR
Costa Rica Colones Costa Rica Colones CRC 0.30 PKR
Croatia Kuna Croatia Kuna HRK 28.42 PKR
Czech Republic Koruny Czech Republic Koruny CZK 8.67 PKR
Danish Krone Danish Krone DKK 28.80 PKR
Dominican Republic Pesos Dominican Republic Pesos DOP 3.62 PKR
East Caribbean Dollars East Caribbean Dollars XCD 74.11 PKR
Egypt Pounds Egypt Pounds EGP 10.76 PKR
Estonia Krooni Estonia Krooni EEK 200.09 PKR
Fiji Dollars Fiji Dollars FJD 93.11 PKR
Hong Kong Dollar Hong Kong Dollar HKD 25.49 PKR
Hungary Forint Hungary Forint HUF 0.54 PKR
Iceland Kronur Iceland Kronur ISK 1.56 PKR
IMF Special Drawing Rights IMF Special Drawing Rights XDR 270.11 PKR
Indian Rupee Indian Rupee INR 2.58 PKR
Indonesia Rupiahs Indonesia Rupiahs IDR 0.01 PKR
Iran Rials Iran Rials IRR 0.00 PKR
Iraq Dinars Iraq Dinars IQD 0.14 PKR
Israel New Shekels Israel New Shekels ILS 59.79 PKR
Jamaica Dollars Jamaica Dollars JMD 1.30 PKR
Jordan Dinars Jordan Dinars JOD 282.22 PKR
Kenya Shillings Kenya Shillings KES 1.71 PKR
Kuwaiti Dinar Kuwaiti Dinar KWD 653.90 PKR
Lebanon Pounds Lebanon Pounds LBP 0.13 PKR
Malaysian Ringgit Malaysian Ringgit MYR 45.69 PKR
Mauritius Rupees Mauritius Rupees MUR 4.62 PKR
Mexico Pesos Mexico Pesos MXN 10.22 PKR
Morocco Dirhams Morocco Dirhams MAD 20.20 PKR
New zealand Dollars New zealand Dollars NZD 130.72 PKR
Norwegians Krone Norwegians Krone NOK 21.08 PKR
Omani Riyal Omani Riyal OMR 520.40 PKR
Peru Nuevos Soles Peru Nuevos Soles PEN 54.67 PKR
Philippines Pesos Philippines Pesos PHP 3.83 PKR
Poland Zlotych Poland Zlotych PLN 46.90 PKR
Qatari Riyal Qatari Riyal QAR 54.97 PKR
Romania New Lei Romania New Lei RON 43.33 PKR
Russia Rubles Russia Rubles RUB 2.99 PKR
Saudi Riyal Saudi Riyal SAR 53.36 PKR
Singapore Dollar Singapore Dollar SGD 146.13 PKR
Slovakia Koruny Slovakia Koruny SKK 200.09 PKR
South Africa Rand South Africa Rand ZAR 12.83 PKR
South Korea Won South Korea Won KRW 0.16 PKR
Sri Lanka Rupees Sri Lanka Rupees LKR 0.55 PKR
Sudan Pounds Sudan Pounds SDG 0.44 PKR
Swedish Korona Swedish Korona SEK 20.34 PKR
Swiss Franc Swiss Franc CHF 208.91 PKR
Taiwan New Dollars Taiwan New Dollars TWD 6.83 PKR
Thai Bhat Thai Bhat THB 5.87 PKR
Trinidad and Tobago Dollars Trinidad and Tobago Dollars TTD 29.53 PKR
Tunisia Dinars Tunisia Dinars TND 65.98 PKR
Turkey New Lira Turkey New Lira TRY 12.35 PKR
Venezuela Bolivares Fuertes Venezuela Bolivares Fuertes VEF 0.00 PKR
Vietnam Dong Vietnam Dong VND 0.01 PKR
Zambia Kwacha Zambia Kwacha ZMK 200.09 PKR
Currency Currency Symbol 0.00 PKR
Bitcoin Bitcoin XBT 0.00 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 (29 May 2022) Current Forex / Foreign exchange rates in Pakistan. Current rate of US Dollar USD To PKR is 200.09 Rs, Australian Dollar AUD To PKR is 143.12 Rs, Canadian Dollar CAD To PKR is 157.05 Rs, Euro EUR To PKR is 214.21 Rs, Japanese Yen JPY To PKR is 1.57 Rs, U.A.E Dirham AED To PKR is 54.48 Rs, UK Pound Sterling GBP To PKR is 252.33 Rs, China Yuan CNY To PKR is 29.87 Rs, Saudi Riyal SAR To PKR is 53.36 Rs.

Latest Comments

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