Tag: US Dollar

Pakistani Rupee to US Dollar on August 06, 2022

KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on August 06, 2022:

Buying: Rs 218.00 to the US Dollar

Selling: Rs 220.00 to the US Dollar

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells the foreign currency from a customer.

The rate has been updated at 08:18 AM Pakistan Standard Time (PST).

The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

Pakistani Rupee to US Dollar on August 05, 2022

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Pakistani Rupee to UAE Dirham on August 06, 2022

KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on August 06, 2022:

Buying: Rs 59.50 to the UAE Dirham

Selling: Rs 60.50 to the UAE Dirham

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells the foreign currency from a customer.

The rate has been updated at 08:18 AM Pakistan Standard Time (PST).

The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

Pakistani Rupee to UAE Dirham on August 05, 2022

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Pakistani Rupee to UK Pound Sterling on August 06, 2022

KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on August 06, 2022:

Buying: Rs 265.00 to the UK Pound Sterling

Selling: Rs 268.00 to the UK Pound Sterling

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells the foreign currency from a customer.

The rate has been updated at 08:17 AM Pakistan Standard Time (PST).

The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

Pakistani Rupee to UK Pound Sterling on August 05, 2022

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Pakistani Rupee to Euro on August 06, 2022

KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on August 06, 2022:

Buying: Rs 224.00 to the Euro

Selling: Rs 226.50 to the Euro

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells for foreign currency from a customer.

The rate has been updated at 08:17 AM Pakistan Standard Time (PST).

The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

Pakistani Rupee to Euro on August 05, 2022

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Pakistani Rupee to Saudi Riyal on August 06, 2022

KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on August 06, 2022:

Buying: Rs 58.40 to the Saudi Riyal

Selling: Rs 59.40 to the Saudi Riyal

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells for foreign currency from a customer.

The rate has been updated at 08:16 AM Pakistan Standard Time (PST).

The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

Pakistani Rupee to Saudi Riyal on August 05, 2022

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Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. The given rates are opening for the day. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

August 6, 2022
Pakistani rupee extends gain to dollar for sixth session

KARACHI: The Pakistani Rupee (PKR) extended appreciation against the US dollar on Friday for the sixth straight session since falling to historic low on July 28, 2022.

The exchange rate witnessed Rs2.11 gain in rupee value to end at Rs224.04 to the dollar from previous day’s closing of Rs226.15 in the interbank foreign exchange market.

READ MORE: Dollar plunges to Rs226.15 at interbank closing on August 4, 2022

The rupee continued the gain for sixth straight session after falling to historic low. The rupee witnessed record low at Rs239.94 on July 28, 2022. However, since then the rupee is continuously gaining to the dollar.

The local units gained about Rs15.90 or 6.62 per cent during past six trading days.

Currency dealers said that the tight monitoring of the State Bank of Pakistan (SBP) had eased the pressure on exchange rate.

READ MORE: Pakistani Rupee makes historic recovery; dollar ends at Rs228.80

The SBP initiated inspection against the exchange companies on August 01, 2022. On August 2, 2022, the SBP suspended the operations of four branches of two ECs (Galaxy Exchange Co and Al-Hameed International Money Exchange Co) for violation of SBP regulations.

The central bank also imposed monetary penalties on some ECs in the recent past. Besides, due to violations of SBP instructions, arrangements of 13 franchises have been terminated by six different ECs in the recent past.

The dealers said that after assurance from the International Monetary Fund (IMF) that Pakistan had met all the requirement for the disbursement of $1.2 billion tranche under Extended Fund Facility (EFF).

READ MORE: Rupee makes recovery against dollar for 3rd straight day

The currency experts said that the rupee was also supported by reduction in trade deficit during the first month of the current fiscal year.

The trade deficit narrowed by 18.33 per cent to $2.62 billion for the month of July 2022 as compared with the deficit of $3.23 billion in the same month of the last year.

READ MORE: Dollar falls to Rs238.84 at interbank closing on August 01, 2022

The trade deficit was mainly contracted due to 12.8 per cent decline in import bill during the month under review. The import bill of the country was reduced to $4.86 billion in July 2022 as compared with $5.57 billion in the same month of the last year.

The experts, however, expressed concerns over massive decline in foreign exchange reserves. They said that expected inflows from the International Monetary Fund (IMF) would help the country’s external sector.

August 5, 2022
Pakistani Rupee to US Dollar on August 05, 2022

KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on August 05, 2022:

Buying: Rs 219.00 to the US Dollar

Selling: Rs 221.00 to the US Dollar

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells the foreign currency from a customer.

The rate has been updated at 06:00 AM Pakistan Standard Time (PST).

The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

Pakistani Rupee to US Dollar on August 04, 2022

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Pakistani Rupee to Saudi Riyal on August 05, 2022

KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on August 05, 2022:

Buying: Rs 58.40 to the Saudi Riyal

Selling: Rs 60.40 to the Saudi Riyal

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells for foreign currency from a customer.

The rate has been updated at 06:00 AM Pakistan Standard Time (PST).

The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

Pakistani Rupee to Saudi Riyal on August 04, 2022

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Pakistani Rupee to Euro on August 05, 2022

KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on August 05, 2022:

Buying: Rs 222.50 to the Euro

Selling: Rs 230.50 to the Euro

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells for foreign currency from a customer.

The rate has been updated at 06:00 AM Pakistan Standard Time (PST).

The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

Pakistani Rupee to Euro on August 04, 2022

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Pakistani Rupee to UK Pound Sterling on August 05, 2022

KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on August 05, 2022:

Buying: Rs 265.50 to the UK Pound Sterling

Selling: Rs 272.50 to the UK Pound Sterling

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells the foreign currency from a customer.

The rate has been updated at 06:00 AM Pakistan Standard Time (PST).

The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

Pakistani Rupee to UK Pound Sterling on August 04, 2022

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Pakistani Rupee to UAE Dirham on August 05, 2022

KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on August 05, 2022:

Buying: Rs 59.80 to the UAE Dirham

Selling: Rs 61.80 to the UAE Dirham

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells the foreign currency from a customer.

The rate has been updated at 06:00 AM Pakistan Standard Time (PST).

The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

Pakistani Rupee to UAE Dirham on August 04, 2022

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Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. The given rates are opening for the day. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

August 5, 2022
Dollar plunges to Rs226.15 at interbank closing on August 4, 2022

KARACHI: The US dollar plunged to Rs226.15 against the Pakistani Rupee (PKR) on Thursday at the closing of the interbank foreign exchange market.

The exchange rate recorded an increase of Rs2.65 in rupee value to end at Rs226.15 to the dollar from the previous day’s closing of Rs228.80 in the interbank foreign exchange market.

READ MORE: Pakistani Rupee makes historic recovery; dollar ends at Rs228.80

The local unit recorded a massive recovery during the past five sessions, especially during the last two days. The rupee hit historic low of Rs239.94 to the dollar on July 28, 2022. However, since then the local currency recorded a gain of Rs13.79 against the greenback by end of trading on August 04, 2022.

Currency dealers attributed the rupee appreciation to tight monitoring of the State Bank of Pakistan (SBP).

The SBP initiated inspection against the exchange companies on August 01, 2022. On August 2, 2022, the SBP suspended the operations of four branches of two ECs (Galaxy Exchange Co and Al-Hameed International Money Exchange Co) for violation of SBP regulations.

READ MORE: Rupee makes recovery against dollar for 3rd straight day

The central bank also imposed monetary penalties on some ECs in the recent past. Besides, due to violations of SBP instructions, arrangements of 13 franchises have been terminated by six different ECs in the recent past.

The currency experts said that the rupee was also supported by reduction in trade deficit during the first month of the current fiscal year.

READ MORE: Dollar falls to Rs238.84 at interbank closing on August 01, 2022

The trade deficit narrowed by 18.33 per cent to $2.62 billion for the month of July 2022 as compared with the deficit of $3.23 billion in the same month of the last year.

The trade deficit was mainly contracted due to 12.8 per cent decline in import bill during the month under review. The import bill of the country was reduced to $4.86 billion in July 2022 as compared with $5.57 billion in the same month of the last year.

READ MORE: Pakistan interbank rupee ends Rs239.37 to dollar on July 29, 2022

The experts, however, expressed concerns over massive decline in foreign exchange reserves. They said that expected inflows from the International Monetary Fund (IMF) would help the country’s external sector.

They further said that the flow of IMF fund would also open doors to other bilateral and multilateral funding for Pakistan.

August 4, 2022
Pakistani Rupee to US Dollar on August 04, 2022

KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on August 04, 2022:

Buying: Rs 224.00 to the US Dollar

Selling: Rs 226.00 to the US Dollar

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells the foreign currency from a customer.

The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

Pakistani Rupee to US Dollar on August 03, 2022

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Pakistani Rupee to Saudi Riyal on August 04, 2022

KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on August 04, 2022:

Buying: Rs 59.00 to the Saudi Riyal

Selling: Rs 60.00 to the Saudi Riyal

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells for foreign currency from a customer.

The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

Pakistani Rupee to Saudi Riyal on August 03, 2022

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Pakistani Rupee to Euro on August 04, 2022

KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on August 04, 2022:

Buying: Rs 227.00 to the Euro

Selling: Rs 230.00 to the Euro

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells for foreign currency from a customer.

The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

Pakistani Rupee to Euro on August 03, 2022

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Pakistani Rupee to UK Pound Sterling on August 04, 2022

KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on August 04, 2022:

Buying: Rs 272.00 to the UK Pound Sterling

Selling: Rs 276.00 to the UK Pound Sterling

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells the foreign currency from a customer.

The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

Pakistani Rupee to UK Pound Sterling on August 03, 2022

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Pakistani Rupee to UAE Dirham on August 04, 2022

KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on August 04, 2022:

Buying: Rs 61.00 to the UAE Dirham

Selling: Rs 62.00 to the UAE Dirham

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells the foreign currency from a customer.

The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

Pakistani Rupee to UAE Dirham on August 03, 2022

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Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

August 4, 2022
FPCCI demands SBP to check speculative dollar trading

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Wednesday demanded the State Bank of Pakistan (SBP) to check speculative dollar trading.

FPCCI President Irfan Iqbal Sheikh at a meeting with high level delegation of the SBP visited the Federation House, urged the central bank to use policy tool to check the speculative dollar trading over the past few weeks.

READ MORE: FPCCI warns factories closure as rupee crashes against dollar

The senior management of the SBP led by Governor (A) Dr. Murtaza Syed and comprising, among others, Deputy Governors Dr. Inayat Hussain and Ms. Sima Kamil visited the FPCCI to discuss current economic challenges and the measures being taken by the Government and SBP.

President FPCCI Mr. Irfan Iqbal Sheikh in his inaugural remarks welcomed Dr. Syed and the senior management of the central bank for their visit to the FPCCI.

Shedding light on current business scenario from FPCCI perspective, he requested the Governor (A) to use policy tools available at the central bank’s disposal to check the speculative dollar trading over the past few weeks.

He observed that importers, manufacturers and industries were at the receiving end due to speculative nature & unavailability of dollars, shortage of industrial raw materials and the resultant disruptions in the production processes.

READ MORE: Foreign investors discuss economic situation with SBP

Irfan maintained that over the past several weeks the commercial banks have been offering LCs to importers at the rates higher than inter-bank rates and requested the SBP to play its role for course correction.

Dr. Murtaza Syed, Governor (A) State Bank of Pakistan (SBP) has announced the formation of a committee and appointment of an SBP liaison officer for close coordination with the FPCCI and timely redressal of grievances of business committee. He made this announcement during his visit to the FPCCI on the invitation of their management.

The Governor (A) appreciated business community for their endurance in facing the challenges posed by both international and domestic events and ensured that SBP will provide them its full support by addressing their concerns as much as possible.

The Governor (A) in his address apprised the audience that staff-level IMF agreement is already in place and the board-level approval is expected in the third week of August as their board will meet after their vacations in the first-half of August are over.

READ MORE: SBP introduces foreign currency, rupee value business accounts

He added that SBP believes that rupee is undervalued at the moment and dollar has overshot in the forex market due to several reasons; however, he hoped that it will come down to its real value in 2 – 3 months. He invited the business community to sit together with the SBP for a constructive consultative process and give suggestions on prevailing economic situation, foreign exchange and other related issues.

Dr. Syed also assured the participants to look into technical requirement of prior approvals required by the commercial banks from SBP on the clearance of financial documents of the consignments with the H.S. Codes starting with 84 & 85 as these restrictions were affecting the import of tractor parts and other agricultural machinery as well.

A senior SBP official highlighted the support extended to the businesses in general and to the exporters in particular. SBP enhanced short term Export Refinance limits from Rs432 billion to Rs857 billion in just last four years reflecting an increase of almost 100 per cent. Likewise, outstanding stock of SBP’s long term fixed rate financing for the exporters (LTFF) has also witnessed an increase from Rs209 billion to Rs329 billion in last three years reflecting 57 per cent growth.

The Federation acknowledged that Temporary Economic Refinance Facility (TERF) massively helped in stimulating investment and boosting economy in the backdrop of COVID-19. It will not be out of context to mention that most of the business entities availed TERF at rates far below than the maximum cap of 5 per cent.

READ MORE: OICCI suggests duty cut on locally manufactured cars

The overwhelming success of TERF indicated that it was successful in filling the gap for long term investment in the country. An amount of Rs436 billion had been approved under this facility for 628 businesses.

The FPCCI members raised certain questions which were comprehensively answered by the senior SBP management during the meeting and ensured the FPCCI members that the senior management of the central bank was always available to listen to their issues and resolve them on priority. On a question regarding expiry of SBP’s Refinance Facility for Renewable Energy, the Federation was informed that the scheme has been extended till June 2024.

In the end, the President FPCCI submitted some suggestions for consideration of the SBP. The Governor (A) assured to look into the merits of these suggestions and take a decision soon.

August 3, 2022
SBP launches crackdown against exchange companies

KARACHI: The State Bank of Pakistan (SBP) has launched crackdown against exchange companies in order to end volatility in rupee value against the US dollar.

A statement issued on Wednesday, the central bank said in view of recent volatility in the exchange rate and the difference between the interbank rate and the rate offered by Exchange Companies (ECs) and banks to their customers, it had increased the monitoring of the foreign exchange operations of ECs and banks.

READ MORE: Pakistani Rupee makes historic recovery; dollar ends at Rs228.80

In this respect, SBP started inspections of a number of exchange companies and banks since Monday (August 1, 2022).

On Tuesday (August 2, 2022) SBP suspended the operations of four branches of two ECs (Galaxy Exchange Co and Al-Hameed International Money Exchange Co) for violation of SBP regulations.

READ MORE: UBL declares 21% decline in half year net profit

SBP has also imposed monetary penalties on some ECs in the recent past. Besides, due to violations of SBP instructions, arrangements of 13 franchises have been terminated by six different ECs in the recent past.

SBP has also started conducting mystery shopping exercise throughout Pakistan to investigate the apprehensions that some ECs are not selling foreign currency to their customers.

READ MORE: SBP introduces foreign currency, rupee value business accounts

A meeting of the Exchange Companies Association of Pakistan has also been called on August 4, 2022.

If needed, SBP would augment its enforcement actions on the ECs and the banks in light of findings of the on-going inspections and mystery shopping.

READ MORE: SBP imposes Rs85 million as penalty on JS Bank

August 3, 2022
Pakistani Rupee makes historic recovery; dollar ends at Rs228.80

KARACHI: The Pakistani Rupee made a historic single day recovery of Rs9.58 against the US dollar on Wednesday to close at Rs228.80 in the interbank foreign exchange market.

The exchange rate recorded a recovery of Rs9.58 in rupee value to end at Rs228.80 to the dollar from previous day’s closing of Rs238.38 in the interbank foreign exchange market.

READ MORE: Rupee makes recovery against dollar for 3rd straight day

The rupee made recovery for the fourth consecutive day after the Chief of the Army Staff (COAS) telephoned to the US for speeding up the release of IMF tranche.

The rupee recorded historic low of Rs239.94 against the dollar on July 28, 2022.

Analysts said that expected inflows from the IMF of $1.2 billion, there will be multilateral inflows unlocking, followed by bilateral/friendly countries, and coupled with global and local recession impacting/reducing Oil and food/commodity prices globally, there will be much lower imports (exports will also be hit), thereby lowering demand for dollar outflows. This should help improve PKR against the US$, at least for some time.

READ MORE: Dollar falls to Rs238.84 at interbank closing on August 01, 2022

Currency experts said that the fall in import bill during the month of July 2022 eased the pressure on the foreign currency demand. Further, the International Monetary Fund (IMF) likely to release the tranche by end of this month.

The free-fall in rupee continued for the past many months against the greenback due to political instability and weak economic indicators.

The experts said that the continuous decline in rupee value may also be attributed to the fall in foreign exchange reserves.

The foreign exchange reserves of the country have further declined.

READ MORE: Pakistan interbank rupee ends Rs239.37 to dollar on July 29, 2022

Pakistan’s foreign exchange reserves have declined by $368 million to $15.242 billion by week ended July 15, 2022. The foreign exchange reserves of the country were $15.61 billion a week ago i.e. July 07, 2022.

The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $11.986 billion.

The official reserves of the State Bank also depleted by $388 billion to $9.329 billion by week ended July 15, 2022 as compared with $9.717 billion a week ago.

The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP declined by $10.817 billion.

READ MORE: Rupee plunges near Rs240 to dollar at interbank closing

August 3, 2022
Rupee recovers to Rs231 against dollar in midday trading

KARACHI: The Pakistani Rupee made sharp recovery of Rs7.38 to Rs231 against the dollar in midday interbank foreign exchange market on Wednesday.

The exchange rate recorded a recovery of Rs7.38 against the dollar at Rs231 in midday trading from previous day’s closing of Rs238.38 in the interbank foreign exchange market.

READ MORE: Dollar falls to Rs238.84 at interbank closing on August 01, 2022

The rupee recorded historic low of Rs239.94 against the dollar on July 28, 2022. However, since than the rupee made recovery of Rs1.56 against the dollar in the interbank foreign exchange market.

Currency experts said that the fall in import bill during the month of July 2022 eased the pressure on the foreign currency demand. Further, the International Monetary Fund (IMF) likely to release the tranche by end of this month.

The free-fall in rupee continued against the greenback due to political instability and weak economic indicators.

The experts said that the continuous decline in rupee value may also be attributed to the fall in foreign exchange reserves.

READ MORE: Pakistan interbank rupee ends Rs239.37 to dollar on July 29, 2022

The foreign exchange reserves of the country have further declined.

Pakistan’s foreign exchange reserves have declined by $368 million to $15.242 billion by week ended July 15, 2022. The foreign exchange reserves of the country were $15.61 billion a week ago i.e. July 07, 2022.

The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $11.986 billion.

READ MORE: Rupee plunges near Rs240 to dollar at interbank closing

The official reserves of the State Bank also depleted by $388 billion to $9.329 billion by week ended July 15, 2022 as compared with $9.717 billion a week ago.

The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP declined by $10.817 billion.

READ MORE: Dollar touches new peak at Rs236.02 at interbank closing

August 3, 2022
Pakistani Rupee to US Dollar on August 03, 2022

KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on August 03, 2022:

Buying: Rs 237.50 to the US Dollar

Selling: Rs 239.50 to the US Dollar

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells the foreign currency from a customer.

The rate has been updated at 06:03 Pakistan Standard Time (PST).

The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

READ MORE: Pakistani Rupee to US Dollar on August 02, 2022

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Pakistani Rupee to UAE Dirham on August 03, 2022

KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on August 03, 2022:

Buying: Rs 64.60 to the UAE Dirham

Selling: Rs 65.60 to the UAE Dirham

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells the foreign currency from a customer.

The rate has been updated at 06:02 AM Pakistan Standard Time (PST).

The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

READ MORE: Pakistani Rupee to UAE Dirham on August 02, 2022

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Pakistani Rupee to UK Pound Sterling on August 03, 2022

KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on August 03, 2022:

Buying: Rs 290.00 to the UK Pound Sterling

Selling: Rs 294.00 to the UK Pound Sterling

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells the foreign currency from a customer.

The rate has been updated at 06:01 AM Pakistan Standard Time (PST).

The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

READ MORE: Pakistani Rupee to UK Pound Sterling on August 02, 2022

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Pakistani Rupee to Euro on August 03, 2022

KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on August 03, 2022:

Buying: Rs 242.50 to the Euro

Selling: Rs 245.00 to the Euro

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells for foreign currency from a customer.

The rate has been updated at 06:00 AM Pakistan Standard Time (PST).

The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

READ MORE: Pakistani Rupee to Euro on August 02, 2022

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Pakistani Rupee to Saudi Riyal on August 03, 2022

KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on August 03, 2022:

Buying: Rs 63.30 to the Saudi Riyal

Selling: Rs 64.30 to the Saudi Riyal

The buying rate means an exchange company or a bank buys foreign currency from a customer.

The selling rate means an exchange company or a bank sells for foreign currency from a customer.

The rate has been updated at 06:00 AM Pakistan Standard Time (PST).

The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

READ MORE: Pakistani Rupee to Saudi Riyal on August 02, 2022

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Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

August 3, 2022