Currency Rate in Pakistan
Karachi: Here is the updated currency rate in Pakistan as 16 October 2018. We collect currency rates from local exchanges and local forex market of different cities including Lahore, Peshawar, Faisalabad, Gujranwala, Islamabad, Karachi, Rawalpindi, Quetta, Sialkot, and Multan.
Which factors affect currency rate in Pakistan?
There are several factors that higher or lower the currency rate in Pakistan or any other country. The Dollar rate in Pakistan has also seen a high rise in last few months.
Yesterday, the USD to PKR ratio increased by Rs 1.43 after initially rising by Rs. 1.57 and was being traded at Rs 131.97 after closing at Rs 131.90 on Friday.
Following a steep increase in the US dollars price last week, the rupee made a recovery against the dollar in the inter bank market on Friday as it was trading at Rs 132.40 in the inter bank, down Rs 1.40 and closed at Rs 131.90, down by Rs 1.87.
Last week, The Dollar rate in Pakistan significantly increased as the Pakistani Rupee fell to all time low value. The dollar was falling in the evening after the receiving of $10 million remittances into the market.
The interbank market has seen a 7.5% depreciation of Pakistai Rupee against the US dollar. However, the dollar was traded below Rs134 on October 10.
Later, Pakistani rupee recovers against dollar in the inter bank market as ratio came down. The US dollar was traded at Rs 132.40 and lowered by Rs 1.40.
The factors are provided below for the further understanding.
- Changes in inflation cause fluctuation in currency exchange rates.
- Changes in financing cost influence money esteem and dollar conversion scale.
- Current account of any country reflects adjust of exchange and income on foreign investment.
- Government obligation is open obligation or national obligation possessed by the federal government.
- Identified with current records and adjust of installments, the terms of exchange is the proportion of fare costs to import costs.
- Political state of country and financial execution can influence its money quality.
- At the point when any country encounters a retreat, its loan fees are probably going to fall, diminishing its odds to gain outside capital.
- In the event that a nation’s cash esteem is required to rise, financial specialists will request a greater amount of that money with a specific end goal to make a benefit sooner rather than later.
International Forex Rates
You can see all International Forex Rates Here:
Inter Bank Forex Rates
You can see all Inter Bank Forex Rates Here:
Currency rates are updated on regular basis. You can also check the gold rate in Pakistan here.