Karachi – The open market exchange rates of various foreign currencies against the Pakistani Rupee (PKR) were updated at 8:00 AM (Pakistan Standard Time) on August 20, 2022. These currency rates reflect the buying and selling prices of major international currencies being traded across Pakistan’s open market.
The US Dollar (USD) continued to dominate the market, with its buying rate standing at Rs216.00, while the selling rate was Rs218.00. The Dollar’s steady demand in the local market remains a key driver of overall foreign exchange rates in Pakistan.
Among the Gulf currencies, the Saudi Riyal (SAR) was being bought at Rs57.60 and sold at Rs58.20, while the UAE Dirham (AED) was available for Rs59.00 on the buying side and Rs59.60 for selling. These two currencies are widely traded due to the strong Pakistani expatriate communities in Saudi Arabia and the UAE, which significantly influence remittance inflows and thereby impact currency rates.
European currencies also showed strength in the market. The Euro (EUR) stood at Rs218.00 for buying and Rs220.50 for selling. Meanwhile, the British Pound (GBP) continued its higher trend, fetching Rs258.00 on the buying side and Rs262.00 for selling. The Swiss Franc (CHF) was seen trading at Rs224.21 to buy and Rs225.21 to sell.
From Asia-Pacific, the Japanese Yen (JPY) remained at Rs1.56 for buying and Rs1.58 for selling. The Australian Dollar (AUD) was being traded at Rs149.00 to buy and Rs151.00 to sell, while the Canadian Dollar (CAD) saw rates of Rs166.50 and Rs168.00 respectively.
Other notable foreign currency rates included the Indian Rupee (INR) trading between Rs2.35 and Rs2.65, the Chinese Yuan (CNY) ranging from Rs33.00 to Rs35.00, and the Afghan Afghani (AFN) between Rs1.60 and Rs2.00.
These updated foreign exchange rates help guide buyers, travelers, and businesses in planning their currency conversions efficiently. The open market often sees minor fluctuations depending on demand, supply, and global economic conditions.