KARACHI: The buying and selling rates of the UAE Dirham (AED) against the Pakistani Rupee (PKR) were recorded in the open market on February 14, 2022, as follows:
• Buying Rate: Rs48.75 per AED
• Selling Rate: Rs49.35 per AED
These rates were last updated at 12:03 PM Pakistan Standard Time (PST) and reflect the market-based value of the AED against the PKR. The buying rate indicates the amount in rupees an exchange company or bank is willing to pay to purchase one AED from a customer. Conversely, the selling rate represents the cost in rupees at which one can buy a UAE Dirham from the open market.
The exchange rates are determined by demand and supply dynamics in the local and global currency markets. Increased demand for AED, especially for purposes such as overseas travel, remittances, or import payments, can push the rate higher, while lower demand or improved foreign exchange inflows can strengthen the PKR.
The AED/PKR parity is not fixed by the State Bank of Pakistan but fluctuates in the open market throughout the day. Traders, travelers, and investors are advised to monitor real-time market movements or consult authorized exchange companies to get the most accurate rates before conducting any transactions involving the AED.
Understanding these trends is essential for anyone engaged in foreign currency exchanges, especially for those dealing frequently with Gulf currencies like the UAE Dirham.