KARACHI, March 21, 2022 – The exchange rates for the UAE Dirham (AED) in Pakistani Rupee (PKR) on March 21, 2022, were as follows:
Buying Rate: Rs 49.10 per UAE Dirham
Selling Rate: Rs 49.70 per UAE Dirham
The buying rate indicates the rate at which exchange companies or banks purchase foreign currency from customers. Conversely, the selling rate represents the rate at which these entities sell foreign currency to customers.
These rates were updated at 11:55 AM Pakistan Standard Time (PST) and reflect the dynamic nature of the foreign exchange market. The UAE Dirham to PKR parity is influenced by open market rates, which are determined by market forces such as supply and demand for foreign currency.
Exchange rates are critical indicators of the economic relationship between two currencies and can be influenced by a variety of factors including economic stability, inflation rates, and interest rates. In the case of the UAE Dirham and Pakistani Rupee, these rates are set in the open market, meaning they fluctuate based on the current demand for the Dirham compared to the Rupee.
Foreign exchange markets are highly sensitive to global economic events, geopolitical developments, and domestic economic indicators. For instance, a higher demand for the UAE Dirham can lead to an appreciation of the Dirham against the Rupee, resulting in higher exchange rates.
On March 21, 2022, the reported rates show a stable range for both buying and selling, indicating a relatively balanced market. However, these rates can change rapidly due to market conditions. It is advisable for individuals and businesses engaging in foreign currency transactions to keep a close watch on these rates.
For travelers, expatriates, and businesses involved in international trade, understanding these rates is crucial for financial planning and budgeting. Those looking to buy Dirhams for travel or investment purposes would need to consider the selling rate, while those converting Dirhams to Rupees would look at the buying rate.
The role of exchange companies and banks is pivotal in this process as they facilitate these transactions and provide the necessary infrastructure to support the exchange of currencies. Customers are encouraged to check with multiple exchange companies or banks to get the best possible rates.