![]() The Canadian Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand. Selling: Rs 205.00 to the Canadian Dollar KARACHI: Following are the rates of buying and selling of one Canadian Dollar (CAD) in Pakistani Rupee (PKR) in the open market on March 20, 2023: Pakistani Rupee to Canadian Dollar – PKR to CAD on March 20, 2023 Pakistani Rupee to UAE Dirham – PKR to AED on March 19, 2023 The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand. KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on March 20, 2023: Pakistani Rupee to UAE Dirham – PKR to AED on March 20, 2023 Pakistani Rupee to UK Pound – PKR to GBP on March 19, 2023 The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand. The selling rate means an exchange company or a bank sells the foreign currency from a customer. Selling: Rs 344.00 to the UK Pound Sterling KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on March 20, 2023:īuying: Rs 340.60 to the UK Pound Sterling Pakistani Rupee to UK Pound – PKR to GBP on March 20, 2023 Pakistani Rupee to Euro – PKR to EUR on March 19, 2023 The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand. KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on March 20, 2023: Pakistani Rupee to Euro – PKR to EUR on March 20, 2023 Pakistani Rupee to Saudi Riyal – PKR to SAR on March 19, 2023 The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand. ![]() The rate has been updated at 09:00 AM Pakistan Standard Time (PST). ![]() The selling rate means an exchange company or a bank sells for foreign currency from a customer. The buying rate means an exchange company or a bank buys foreign currency from a customer. “This will unlock significant additional financing from the IMF and other multilateral and bilateral sources and may well provide a significant confidence boost to the markets.KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on March 20, 2023: “We assume IMF board approval of Pakistan’s new staff-level agreement with the lender,” Krisjanis Krustins, a Hong Kong-based director at Fitch, was quoted as saying by Bloomberg on Wednesday. Once the deal amount will be secured, it is expected that pressure on the country’s currency and forex reserves will ease. This downfall of Pakistani rupees comes as Moody’s Investors Service and Fitch Ratings said they expect Pakistan to secure the USD 1.2 billion bailout from the IMF. However, in the long-term, the rupee would remain lower,” Khan said.ĭespite the agreement, the ongoing political and economic turmoil in the country has raised concerns among investors, it reported. “If everything goes as per the plan, pertaining to the IMF, it could push the rupee down to 225-230. Success with the IMF could lead to a depreciation break, IGI Securities Head of Research Saad Khan said. The depreciation took place after the International Monetary Fund (IMF) announced its staff-level agreement with Pakistan authorities on July 14. The currency depreciated in 10 out of 17 sessions. Several factors including escalating domestic political tension, low foreign exchange reserves, and speculative behaviour on part of stakeholders have contributed to the freefall of the currency, local media reported. The government had termed the decision inevitable and its value reduced from PKR 4.77 to PKR 11 per US dollar. The value of the Pakistani rupee was 204.85 against the US dollar in the inter-bank market at the start of July.Įven though fewer trading sessions took place due to the Eid holidays, the currency closed at 239.37 against the US dollar on July 29, Business Recorder reported.Įarlier, the Pakistani currency slumped by 57 per cent in May 1972. The Pakistani currency depreciated by 14.5 per cent against the US dollar, registering its worst month in over 50 years as the country continues to struggle with high import payments, depleting foreign exchange reserves, and political uncertainty.
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