KARACHI – The buying and selling rates of the UAE Dirham (AED) in Pakistani Rupee (PKR) were updated in the open market on Tuesday, March 08, 2022. The rates reflect the dynamics of currency trading influenced by market supply and demand.
As of 01:36 PM Pakistan Standard Time (PST), the buying rate for one UAE Dirham stood at PKR 48.25, while the selling rate was PKR 48.95. These rates represent the price at which foreign exchange dealers and banks transact the UAE Dirham with their customers.
The buying rate indicates the amount a bank or an exchange company offers to purchase the UAE Dirham from a customer. Conversely, the selling rate signifies the price at which these entities sell the Dirham to customers. The spread between the buying and selling rates reflects the profit margin of the exchange company or bank, as well as fluctuations in the market.
The exchange rate of the UAE Dirham to PKR is determined by open market forces, which are driven by the supply and demand for foreign currency. The UAE Dirham is widely used by Pakistani expatriates working in the United Arab Emirates, who send remittances back home. This high demand for the AED in Pakistan often stabilizes its exchange rate compared to other currencies.
The Dirham holds particular significance in Pakistan due to the close economic ties between the two countries. Many Pakistani businesses rely on the AED for transactions involving imports, exports, and investment opportunities in the UAE. Additionally, the AED is a preferred currency for travelers and traders dealing with the Gulf region.
Fluctuations in AED/PKR rates can impact various sectors, including remittances, tourism, and trade. Therefore, it is essential for individuals and businesses dealing in the UAE Dirham to monitor updates in exchange rates regularly to make informed financial decisions.
Stay tuned for further updates on AED/PKR rates as they continue to shift with market dynamics.