KARACHI: The exchange rate of the US Dollar (USD) against the Pakistani Rupee (PKR) in the open market on March 4, 2022, was recorded as follows:
• Buying: Rs177.60 per USD
• Selling: Rs179.10 per USD
These rates reflect the prices at which foreign exchange companies or banks are buying and selling USD in exchange for PKR. The buying rate indicates the amount in PKR that an exchange company pays to purchase one USD from a customer. Conversely, the selling rate refers to the amount a customer must pay in PKR to acquire one USD from the exchange company.
The PKR-USD parity in the open market is determined by supply and demand dynamics. When the demand for the USD rises—typically for import payments, foreign travel, or remittances—the price of the dollar increases. Similarly, when demand falls or PKR strengthens due to positive economic indicators or foreign inflows, the exchange rate may shift in favor of the PKR.
As of 04:21 PM Pakistan Standard Time (PST), these rates were current and reflect real-time market trading activity. However, exchange rates can fluctuate throughout the day based on a variety of global and local economic factors, including interest rates, inflation, and geopolitical developments.
Individuals and businesses dealing with foreign currency transactions are advised to check with authorized dealers or currency exchange platforms for the most updated USD-PKR rates before making financial decisions.