Karachi, August 14, 2024: The Exchange Companies Association of Pakistan (ECAP) has released the latest currency exchange rates for today, Tuesday, August 14, 2024.
These rates represent the value of the Pakistani Rupee (PKR) against several major international currencies in the open market. The data reflects slight fluctuations in the exchange rates compared to the previous day, indicating the ongoing volatility in the currency market.
Currency Exchange Rates – August 14, 2024
• USD (U.S. Dollar)
o Buying: PKR 279.46
o Selling: PKR 280.40
• EURO (Euro)
o Buying: PKR 304.45
o Selling: PKR 305.86
• GBP (British Pound)
o Buying: PKR 355.94
o Selling: PKR 357.60
• JPY (Japanese Yen)
o Buying: PKR 1.87
o Selling: PKR 1.92
• AED (UAE Dirham)
o Buying: PKR 75.92
o Selling: PKR 76.35
• SAR (Saudi Riyal)
o Buying: PKR 74.11
o Selling: PKR 74.55
Comparative Analysis with August 13, 2024
The exchange rates show a marginal increase in the value of key currencies against the PKR compared to August 13, 2024. The U.S. Dollar, which is a key currency for trade and investment, saw a slight uptick in its buying rate, moving from PKR 279.37 to PKR 279.46, while the selling rate remained stable at PKR 280.40.
The Euro also experienced a modest increase, with its buying rate rising from PKR 304.07 to PKR 304.45 and the selling rate climbing from PKR 305.38 to PKR 305.86. Similarly, the British Pound recorded a rise, with its buying rate increasing from PKR 355.55 to PKR 355.94, and the selling rate advancing from PKR 357.07 to PKR 357.60.
Other currencies such as the Japanese Yen, UAE Dirham, and Saudi Riyal remained stable with no significant changes in their exchange rates, reflecting a relatively calm day in the currency market for these specific currencies.
Market Implications
The slight increase in the value of the U.S. Dollar, Euro, and British Pound against the Pakistani Rupee could be indicative of external economic pressures or internal market demand for foreign currencies. Traders and businesses dealing in foreign exchange are advised to keep a close watch on these trends as they may impact import costs and inflationary pressures in the near term.
The ECAP’s continued monitoring of these rates is crucial for ensuring market stability and providing guidance to businesses and individuals involved in currency trading.
