KARACHI, March 14, 2022 – The open market exchange rates for the UAE Dirham (AED) against the Pakistani Rupee (PKR) were updated at 12:20 PM Pakistan Standard Time (PST). On this date, the buying rate of one Dirham stood at Rs48.50, while the selling rate was recorded at Rs49.20.
In currency exchange terminology, the buying rate refers to the rate at which a bank or exchange company purchases foreign currency—in this case, the Dirham—from a customer. Conversely, the selling rate is the price at which the institution sells the foreign currency to a customer.
The value of the UAE Dirham against the rupee fluctuates based on demand and supply conditions in the open market. Unlike interbank rates which are governed more strictly by central bank policies, open market exchange rates are determined by market forces and can vary throughout the day based on commercial transactions and remittance flows.
Foreign exchange dealers note that the rupee has shown relative stability against the Dirham in recent days, but slight variations are expected depending on regional trade activity, oil import payments, and inflows from overseas Pakistanis. The rupee has recently faced pressure due to higher import bills and limited foreign exchange reserves, but the remittances from the UAE and Gulf region in Dirhams help ease that pressure to an extent.
The ongoing volatility in the global financial market also affects the rupee-Dirham parity, with geopolitical events and commodity price changes influencing investor sentiment. Traders and the general public are advised to stay informed about real-time rates before initiating any foreign exchange transactions.
Always ensure that you check with authorized dealers to get the most accurate and updated rupee to Dirham rates for buying and selling purposes.
These rates are subject to change, so monitor updates regularly before making currency conversions, international purchases, or planning overseas travel expenses.