Tag: US Dollar

  • NKATI asks SBP to stop free-fall in rupee value against dollar

    NKATI asks SBP to stop free-fall in rupee value against dollar

    KARACHI: Industrialists of North Karachi Trade and Industry (NKATI) have urged the State Bank of Pakistan (SBP) to stop free-fall of rupee against the US dollar.

    In a statement, NKATI President Faisal Moiz Khan has urged the State Bank of Pakistan (SBP) to take measures for stabilizing the local currency as dollar breached Rs226 level in the interbank foreign exchange market.

    READ MORE: NKATI launches industrial area beautification

    “The SBP should adopt effective strategies to stabilize the rupee and curb the continued appreciation of the dollar,” he added.

    President NKATI said that rising the dollar will have very negative effects on the industrial production activities while the country’s economy will also be badly affected and a storm of inflation will come.

    The ongoing political ups and downs in the country are in place but the central bank needs to play its role as a regulator to prevent the dollar from soaring and the rupee from falling.

    READ MORE: NKATI urges PM Imran to reduce petroleum prices

    Moiz said that the continued appreciation of the dollar against the rupee has led to an enormous increase in industrial costs, making Pakistani products less competitive in export markets and unsustainably increasing commodity prices in domestic markets.

    “The appreciation of the dollar has more than doubled the cost of industrial raw materials, making it difficult to sustain production activities, and the industrial community fears that if the rupee continues to depreciate and the dollar continues to rise, timely fulfilment of export orders will not be possible,” he informed.

    READ MORE: Pakistan raises petrol price to record high at Rs160/liter

    NKATI president further said that the energy crisis, high rates of electricity, gas, taxes have already significantly increased the cost of production and now the continuous increase in the value of the dollar will sink the industries, which will lead to flood of unemployment and domestic exports will also be affected, so the central bank should adopt a strategy to curb the dollar price hike, otherwise it will become difficult to run the industries.

    READ MORE: NKATI expresses concerns over gas disconnection

  • Rupee hits fresh low Rs224.92 to dollar at interbank closing

    Rupee hits fresh low Rs224.92 to dollar at interbank closing

    KARACHI: The free-fall continued in Pakistan Rupee (PKR) against the dollar on Wednesday as the local currency ended fresh low of Rs224.92 in the interbank foreign exchange market.

    The exchange rate recorded a decline of Rs2.93 to end at Rs224.92 to the dollar from last day’s closing of Rs221.99, the previous historic low of the rupee, in the interbank foreign exchange market.

    READ MORE: Pakistani Rupee crashes to Rs222 against Dollar at closing on July 19, 2022

    Currency experts said that the local unit was under pressure due to political instability.

    Furthermore, the Fitch rating agency has downgraded the Pakistan outlook to negative from positive.

    The experts also believed that the falling foreign exchange reserves also putting pressure on rupee stability.

    The foreign exchange reserves of Pakistan have depleted by $454 million to $15.742 billion by week ended June 30, 2022. The foreign exchange reserves of the country were at $16.196 billion a week ago i.e. June 24, 2022.

    READ MORE: Rupee plummets record low at Rs215.20 to dollar

    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 $11.486 billion.

    The official reserves of the State Bank also recorded a decline of $493 million to $9.816 billion by week ended June 30, 2022 as compared with $10.309 billion a week ago.

    The central bank attributed the decline in foreign exchange reserves to external debt repayments.

    READ MORE: Fitch revises Pakistan’s outlook to negative

    It is pertinent to mention that the SBP received about $2.3 billion from Chinese banks for buildup of foreign exchange reserves. However, despite receiving the amount the external debt payment kept the pressure on the reserves.

    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 $10.33 billion.

    The SBP on July 07, 2022 announced a hike of 125 basis points in policy rate to bring at 15 per cent. The purpose of increasing the interest rate was to curb the demand and support the rupee value. However, the effort of the SBP failed to support the rupee value.

    READ MORE: PKR slips to Rs210.95 against dollar despite IMF agreement

  • Pakistani Rupee to US Dollar on July 20, 2022

    Pakistani Rupee to US Dollar on July 20, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on July 20, 2022:

    Buying: Rs 223.00 to the US Dollar

    Selling: Rs 224.00 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 09:43 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.

    READ MORE: Pakistani Rupee to US Dollar on July 20, 2022

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    Pakistani Rupee to UAE Dirham on July 20, 2022

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on July 20, 2022:

    Buying: Rs 59.50 to the UAE Dirham

    Selling: Rs 61.00 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 09:43 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 July 20, 2022

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    Pakistani Rupee to UK Pound Sterling on July 20, 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 July 20, 2022:

    Buying: Rs 262.00 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 09:43 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 July 20, 2022

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    Pakistani Rupee to Euro on July 20, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on July 20, 2022:

    Buying: Rs 223.50 to the Euro

    Selling: Rs 228.50 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 09:42 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 July 20, 2022

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    Pakistani Rupee to Saudi Riyal on July 20, 2022

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on July 20, 2022:

    Buying: Rs 58.00 to the Saudi Riyal

    Selling: Rs 59.00 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 09:42 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 July 20, 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.

  • FPCCI warns factories closure as rupee crashes against dollar

    FPCCI warns factories closure as rupee crashes against dollar

    KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday warned closure of factories in the country due to highly volatile rupee/dollar parity.

    (more…)
  • Pakistani Rupee crashes to Rs222 against Dollar at closing on July 19, 2022

    Pakistani Rupee crashes to Rs222 against Dollar at closing on July 19, 2022

    KARACHI: The Pakistani Rupee (PKR) crashed against the US dollar to make new historic low at around Rs222 on Tuesday at closing of interbank foreign exchange market.

    The exchange rate recorded a decline of Rs6.79 and ended at Rs221.99 to the dollar from previous day’s closing of Rs215.20 in the interbank foreign exchange market.

    READ MORE: Rupee plummets record low at Rs215.20 to dollar

    The rupee fell to the record low of Rs215.20 at interbank closing on July 18, 2022.

    Currency experts said that the local unit was under pressure due to political instability.

    Furthermore, the Fitch rating agency has downgraded the Pakistan outlook to negative from positive.

    READ MORE: Fitch revises Pakistan’s outlook to negative

    The experts also believed that the falling foreign exchange reserves also putting pressure on rupee stability.

    The foreign exchange reserves of Pakistan have depleted by $454 million to $15.742 billion by week ended June 30, 2022. The foreign exchange reserves of the country were at $16.196 billion a week ago i.e. June 24, 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 $11.486 billion.

    The official reserves of the State Bank also recorded a decline of $493 million to $9.816 billion by week ended June 30, 2022 as compared with $10.309 billion a week ago.

    READ MORE: PKR slips to Rs210.95 against dollar despite IMF agreement

    The central bank attributed the decline in foreign exchange reserves to external debt repayments.

    It is pertinent to mention that the SBP received about $2.3 billion from Chinese banks for buildup of foreign exchange reserves. However, despite receiving the amount the external debt payment kept the pressure on the reserves.

    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 $10.33 billion.

    READ MORE: Rupee recovers 30 paisas to dollar on IMF agreement

    The SBP on July 07, 2022 announced a hike of 125 basis points in policy rate to bring at 15 per cent. The purpose of increasing the interest rate was to curb the demand and support the rupee value. However, the effort of the SBP failed to support the rupee value.

  • Dollar hits Rs220 to make new midday high in interbank

    Dollar hits Rs220 to make new midday high in interbank

    KARACHI: The US dollar made new record against the Pakistani Rupee to reach at Rs220 during midday trading in interbank foreign exchange market on Tuesday.

    The rupee has lost Rs4.8 so far during the day against the dollar. The exchange rate is at Rs220 to the dollar from previous day’s closing of Rs215.20.

    READ MORE: Rupee plummets record low at Rs215.20 to dollar

    The rupee fell to the record low of Rs215.20 at interbank closing on July 18, 2022.

    Currency experts said that the local unit was under pressure due to political instability.

    Furthermore, the Fitch rating agency has downgraded the Pakistan outlook to negative from positive.

    READ MORE: Fitch revises Pakistan’s outlook to negative

    The experts also believed that the falling foreign exchange reserves also putting pressure on rupee stability.

    The foreign exchange reserves of Pakistan have depleted by $454 million to $15.742 billion by week ended June 30, 2022. The foreign exchange reserves of the country were at $16.196 billion a week ago i.e. June 24, 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 $11.486 billion.

    The official reserves of the State Bank also recorded a decline of $493 million to $9.816 billion by week ended June 30, 2022 as compared with $10.309 billion a week ago.

    READ MORE: PKR slips to Rs210.95 against dollar despite IMF agreement

    The central bank attributed the decline in foreign exchange reserves to external debt repayments.

    It is pertinent to mention that the SBP received about $2.3 billion from Chinese banks for buildup of foreign exchange reserves. However, despite receiving the amount the external debt payment kept the pressure on the reserves.

    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 $10.33 billion.

    READ MORE: Rupee recovers 30 paisas to dollar on IMF agreement

    The SBP on July 07, 2022 announced a hike of 125 basis points in policy rate to bring at 15 per cent. The purpose of increasing the interest rate was to curb the demand and support the rupee value. However, the effort of the SBP failed to support the rupee value.

  • Pakistani Rupee to US Dollar on July 19, 2022

    Pakistani Rupee to US Dollar on July 19, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on July 19, 2022:

    Buying: Rs 210.50 to the US Dollar

    Selling: Rs 213.00 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 10:04 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.

    READ MORE: Pakistani Rupee to US Dollar on July 18, 2022

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    Pakistani Rupee to UAE Dirham on July 19, 2022

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on July 19, 2022:

    Buying: Rs 57.00 to the UAE Dirham

    Selling: Rs 58.00 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 10:03 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 July 18, 2022

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    Pakistani Rupee to UK Pound Sterling on July 19, 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 July 19, 2022:

    Buying: Rs 246.00 to the UK Pound Sterling

    Selling: Rs 249.00 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 10:02 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 July 18, 2022

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    Pakistani Rupee to Euro on July 19, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on July 19, 2022:

    Buying: Rs 207.00 to the Euro

    Selling: Rs 209.50 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 10:02 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 July 18, 2022

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    Pakistani Rupee to Saudi Riyal on July 19, 2022

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on July 19, 2022:

    Buying: Rs 55.50 to the Saudi Riyal

    Selling: Rs 56.30 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 10:01 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 July 18, 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.

  • Rupee plummets record low at Rs215.20 to dollar

    Rupee plummets record low at Rs215.20 to dollar

    KARACHI: The Pakistani Rupee (PKR) plunged to record low at Rs215.20 against the dollar on Monday in interbank foreign exchange market.

    The exchange rate ended with a loss of Rs4.25 in the rupee value to end at Rs215.20 to the dollar from last Friday’s closing of Rs210.95 in the interbank foreign exchange market, according to data released by the State Bank of Pakistan (SBP).

    Previously, the local currency hit the historic low at Rs211.92 on June 22, 2022.

    READ MORE: PKR slips to Rs210.95 against dollar despite IMF agreement

    Currency experts said that political uncertainty caused panic in the market. The PTI secured major seats in by-election of Punjab, which imbalanced the power in the center and the provincial level governments. Besides, the fall in foreign exchange reserves also causing rupee depreciation.

    The foreign exchange reserves of Pakistan have depleted by $454 million to $15.742 billion by week ended June 30, 2022. The foreign exchange reserves of the country were at $16.196 billion a week ago i.e. June 24, 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 $11.486 billion.

    READ MORE: Rupee recovers 30 paisas to dollar on IMF agreement

    The official reserves of the State Bank also recorded a decline of $493 million to $9.816 billion by week ended June 30, 2022 as compared with $10.309 billion a week ago.

    The central bank attributed the decline in foreign exchange reserves to external debt repayments.

    It is pertinent to mention that the SBP received about $2.3 billion from Chinese banks for buildup of foreign exchange reserves. However, despite receiving the amount the external debt payment kept the pressure on the reserves.

    READ MORE: Rupee drops to Rs210.10 against dollar in interbank

    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 $10.33 billion.

    The SBP on July 07, 2022 announced a hike of 125 basis points in policy rate to bring at 15 per cent. The purpose of increasing the interest rate was to curb the demand and support the rupee value. However, the effort of the SBP failed to support the rupee value.

    READ MORE: Rupee recovers to dollar ahead Eid holidays

  • Dollar nears Rs215 in intraday interbank; hits historic high

    Dollar nears Rs215 in intraday interbank; hits historic high

    KARACHI: The US dollar is being traded at about Pakistan Rupee (PKR) Rs215 in intraday interbank foreign exchange market on Monday. The dollar has also made record high in intraday trading.

    During intraday trading the rupee lost Rs3.92 as the dollar is being traded at Rs214.87 from last Friday’s closing of Rs210.95 in the interbank foreign exchange market.

    READ MORE: PKR slips to Rs210.95 against dollar despite IMF agreement

    Currency experts said that political uncertainty caused panic in the market. The PTI secured major seats in by-election of Punjab, which imbalanced the power in the center and the provincial level governments.

    Besides, the fall in foreign exchange reserves also causing rupee depreciation.

    The rupee has recorded all-time low at Rs211.92 on June 22, 2022 closing in interbank foreign exchange market.

    READ MORE: Rupee recovers 30 paisas to dollar on IMF agreement

    The foreign exchange reserves of Pakistan have depleted by $454 million to $15.742 billion by week ended June 30, 2022. The foreign exchange reserves of the country were at $16.196 billion a week ago i.e. June 24, 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 $11.486 billion.

    The official reserves of the State Bank also recorded a decline of $493 million to $9.816 billion by week ended June 30, 2022 as compared with $10.309 billion a week ago.

    READ MORE: Rupee drops to Rs210.10 against dollar in interbank

    The central bank attributed the decline in foreign exchange reserves to external debt repayments.

    It is pertinent to mention that the SBP received about $2.3 billion from Chinese banks for buildup of foreign exchange reserves. However, despite receiving the amount the external debt payment kept the pressure on the reserves.

    READ MORE: Rupee recovers to dollar ahead Eid holidays

    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 $10.33 billion.

    The SBP on July 07, 2022 announced a hike of 125 basis points in policy rate to bring at 15 per cent. The purpose of increasing the interest rate was to curb the demand and support the rupee value. However, the effort of the SBP failed to support the rupee value.

    READ MORE: Dollar ends near Rs208 in interbank; Rupee fall continues

  • Pakistani Rupee to US Dollar on July 18, 2022

    Pakistani Rupee to US Dollar on July 18, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on July 18, 2022:

    Buying: Rs 209.00 to the US Dollar

    Selling: Rs 211.50 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 10:42 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.

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    Pakistani Rupee to UAE Dirham on July 18, 2022

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on July 18, 2022:

    Buying: Rs 56.70 to the UAE Dirham

    Selling: Rs 57.70 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 10:42 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.

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    Pakistani Rupee to UK Pound Sterling on July 18, 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 July 18, 2022:

    Buying: Rs 246.00 to the UK Pound Sterling

    Selling: Rs 249.00 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 10:42 AM 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.

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    Pakistani Rupee to Euro on July 18, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on July 18, 2022:

    Buying: Rs 207.00 to the Euro

    Selling: Rs 209.50 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 10:41 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 Saudi Riyal on July 18, 2022

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on July 18, 2022:

    Buying: Rs 55.20 to the Saudi Riyal

    Selling: Rs 56.00 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 10:41 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.

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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.