KARACHI – The buying and selling rates of the Euro (EUR) against the Pakistani Rupee (PKR) remained steady in the open currency market on Wednesday, May 25, 2022. As per official updates released at 08:50 AM Pakistan Standard Time (PST), the Euro is being bought at Rs 210.00 and sold at Rs 212.00.
This means that if a customer visits an exchange company or a bank with Euros, the company will buy one Euro for Rs 210.00. Conversely, if a customer wishes to buy one Euro, the company will sell it at Rs 212.00. These rates reflect the ongoing demand and supply dynamics of foreign currency, particularly the Euro, in the open market against the rupee.
The value of the rupee against the Euro and other international currencies is not fixed by the State Bank of Pakistan but rather dictated by market forces. Exchange companies update these rates frequently throughout the day, depending on fluctuations in the global market and the local demand for foreign currency.
Currency dealers in Karachi reported that the demand for Euro in the open market has remained stable, and the rupee showed minimal volatility during early trading hours. However, they also cautioned that geopolitical developments in Europe and global inflationary trends could impact the rupee-Euro parity in the days ahead.
Foreign exchange analysts note that the rupee is under consistent pressure due to rising imports, inflationary pressure, and international oil prices, which indirectly influence the demand for foreign currencies such as the Euro. Any significant shift in Pakistan’s economic indicators or political climate could also affect the rupee’s performance.
Traders and the general public are advised to monitor daily exchange rate updates before engaging in foreign currency transactions. The Euro-rupee rate can vary between banks and exchange companies, so checking rates beforehand ensures a better deal.
In conclusion, as of May 25, 2022, the Euro continues to trade in the open market with the rupee at Rs 210 for buying and Rs 212 for selling.