KARACHI, May 23, 2022 — The exchange rate for one UAE Dirham (AED) in terms of the Pakistani Rupee (PKR) has been updated for today, reflecting the ongoing fluctuations in the open market.
As of 10:02 AM Pakistan Standard Time (PST), the buying and selling rates for the dirham in rupee terms are as follows:
• Buying Rate: Rs 54.50 per dirham
• Selling Rate: Rs 55.50 per dirham
The buying rate represents the amount in rupees that exchange companies or banks offer when they purchase one dirham from customers. Conversely, the selling rate is the price in rupees at which these institutions sell one dirham to buyers. These rates are set by the open market and are influenced by the current supply and demand for foreign currency, particularly the dirham, within Pakistan.
The UAE dirham is one of the most traded foreign currencies in Pakistan due to the large number of Pakistani expatriates living and working in the United Arab Emirates. As a result, the UAE dirham-to-rupee rate holds particular importance for remittance flows, travel, and trade transactions.
It is important to note that these open market rates are different from interbank rates, which are typically used for official transactions between banks and large financial institutions. The interbank rate for rupee-dirham conversion may vary slightly and is regulated by the State Bank of Pakistan.
Currency rates, including the rupee against the dirham, can fluctuate several times throughout the day depending on geopolitical developments, monetary policies, and global market dynamics. Customers are advised to check real-time updates before conducting large foreign currency exchanges to get the most accurate rate.
In a country like Pakistan, where the foreign exchange market plays a critical role in economic stability, daily tracking of dirham and rupee exchange movements helps both individuals and businesses make informed financial decisions.