KARACHI – December 2, 2022: The latest foreign currency exchange rates for the Pakistani Rupee (PKR) in the open market were released at 9:00 AM Pakistan Standard Time (PST). These rates indicate the buying and selling values of various international currencies being traded across Pakistan on the given date. The currency rates are crucial for traders, travelers, and businesses engaged in international transactions.
The foreign currency market in Pakistan remains sensitive to both internal economic indicators and external factors such as global inflation trends, oil prices, and geopolitical developments. These fluctuations are reflected in the changing rates of foreign currencies against the Pakistani Rupee in the open market.
On December 2, the US Dollar (USD) continued to be one of the most sought-after currencies. It was being bought at a rate of PKR 229.25 and sold at PKR 231.50. The demand for the US Dollar remains strong due to its global dominance and its critical role in trade and remittances. Other major foreign currency players in the local market include the Euro (EUR), British Pound (GBP), Saudi Riyal (SAR), and UAE Dirham (AED), each of which reflects trade ties and remittance flows from the respective regions.
The Euro was traded at PKR 246.50 for buying and PKR 249.00 for selling, indicating its steady value in the currency exchange market. The British Pound remained strong as well, with rates ranging between PKR 287.10 and PKR 290.00. These high values show the strength of European currencies and their relevance for Pakistani importers and overseas education seekers.
Regional currencies such as the Indian Rupee (INR), Chinese Yuan (CNY), and Afghan Afghani (AFN) also showed varying levels of demand. These foreign currency rates influence daily cross-border trade and travel, particularly along Pakistan’s eastern and western borders. For instance, the Chinese Yuan was being traded between PKR 33.00 and PKR 35.00, showing fluctuation likely due to bilateral trade activities.
Currency dealers update these rates regularly to reflect changes in supply and demand. The open market acts as a mirror to Pakistan’s economic sentiment and international trade flows. Monitoring foreign currency exchange rates helps individuals and businesses make informed financial decisions in a highly dynamic environment.