Today foreign currency rates in PKR – October 15, 2023

Today foreign currency rates in PKR – October 15, 2023

Karachi, October 15, 2023 – The open market exchange rates for foreign currency in Pakistan saw notable movements as of 9:00 AM Pakistan Standard Time.

These rates impact businesses, travelers, and investors, making it crucial to monitor daily fluctuations in the foreign exchange market.

The US Dollar (USD) remained a key focus, with a buying rate of 274.00 PKR and a selling rate of 277.00 PKR. The dollar’s value is influenced by global economic trends, inflation, and demand for foreign reserves. Similarly, the Euro (EUR) traded at 290.00 PKR for buying and 293.00 PKR for selling, reflecting its strength against the Pakistani Rupee.

Among the Gulf currencies, the Saudi Riyal (SAR) was exchanged at 73.20 PKR for buying and 74.00 PKR for selling, while the UAE Dirham (AED) stood at 75.20 PKR and 76.00 PKR, respectively. These currencies are of high importance due to the significant remittances received from Pakistani expatriates working in the Middle East.

The British Pound (GBP) maintained its robust position, trading at 340.00 PKR for buying and 344.00 PKR for selling. Its value remains closely tied to economic conditions in the United Kingdom and global currency trends. Meanwhile, the Japanese Yen (JPY) stood at 1.40 PKR for buying and 1.47 PKR for selling, indicating its stability despite fluctuations in Asian markets.

Other notable currencies included the Swiss Franc (CHF) at 308.26 PKR (buying) and 310.76 PKR (selling), as well as the Australian Dollar (AUD) at 173.00 PKR and 176.00 PKR. The Canadian Dollar (CAD) was exchanged at 202.00 PKR for buying and 205.00 PKR for selling, reflecting trends in global commodity prices.

Foreign currency exchange rates are highly dynamic and subject to fluctuations based on supply and demand, global economic policies, and geopolitical events. Investors, businesses, and individuals dealing in currency should stay updated with the latest rates before making transactions. The Pakistani Rupee’s stability remains a matter of interest for the financial sector, as it directly impacts imports, exports, and inflation levels.

It is always advisable to verify exchange rates with authorized dealers or financial institutions before conducting any foreign currency exchange to avoid discrepancies due to market fluctuations.