KARACHI, July 6, 2022 – The Pakistani rupee continues to show signs of weakness against foreign currencies, with the UAE Dirham (AED) trading at elevated levels in the open market. As of 10:08 AM Pakistan Standard Time (PST), exchange companies have updated the latest buying and selling rates for the Dirham.
According to market data, the buying rate for one UAE Dirham stands at Rs55.30, while the selling rate has been recorded at Rs56.00. This means that exchange companies or banks are purchasing one Dirham from customers at Rs55.30, while selling it at Rs56.00. The gap between the buying and selling price reflects the transaction cost and market volatility currently being experienced.
These rates are determined by open market forces and are highly sensitive to changes in foreign currency demand. The rupee-Dirham parity is not set by the central bank but fluctuates based on supply and demand in the local exchange markets. A strong demand for Dirham, often due to travel, remittances, or business transactions with the UAE, tends to push the rupee down and drive the Dirham rate higher.
Experts attribute the rupee’s ongoing struggle against the Dirham and other currencies to multiple factors, including Pakistan’s balance of payments concerns, delays in foreign inflows, and global economic uncertainty. This persistent depreciation of the rupee is raising alarm across trade and consumer sectors, as it contributes to import-led inflation and affects the cost of living.
The current exchange trend reflects heightened pressure on the Pakistani rupee, and analysts suggest that unless forex reserves stabilize and investor confidence is restored, the Dirham may continue to strengthen against the local currency.
Exchange rates remain volatile, and customers are advised to monitor updates frequently or consult licensed exchange companies for real-time rates before making currency decisions.
Fluctuations in the rupee-Dirham exchange rate can also impact overseas remittances, import costs, travel expenses, and business operations linked to the UAE economy.