Currency exchange rate Pakistan May 2024 today

Currency exchange rate Pakistan May 2024 today, the us currency rose by 17 paise, with which the dollar reached 278 rupees 50 paise in the interbank.

The current Exchange rate will affect the Gold rate in Pakistan today’s price per 12 grams in the market. The Pakistan stock market is at the highest level in the history of the country.

Pakistan currency exchange rate today

180 currencies have legal status in the United Nations, but the popularity or high use of any currency is not a sign of its stability. The Kuwaiti dinar ranks first in terms of strength, with a value equal to three decimals 25 dollars.

The second number is the Bahraini dinar, which is worth two decimal 65 dollars. Omani riyal is third with two decimal 60 dollars, Jordanian dinar is fourth with one decimal dollar 41, Gibraltar and British pound are fifth and sixth with one decimal dollar.

The seventh number is the Cayman Islands dollar, which is worth $20 to one decimal place. The Swiss franc is at the eighth position with a value of 17 dollars while the euro is at the ninth position with a value of 1.9 dollars.

The US dollar is the 10th number. The US dollar is the world’s most widely used and often primary reserve currency, but it is ranked below many single currencies in terms of strength for a number of reasons.

Currency exchange rate today

To comprehend the current state of currency exchange in Pakistan, it’s crucial to grasp the fundamental concept of exchange rates. These rates are influenced by a myriad of factors, including economic indicators, political stability, and global market trends.

A currency’s strength or power depends on its purchasing power and relative value to other currencies. Pakistan’s currency rate has been a subject of concern for many years due to its volatility and vulnerability to external and internal factors. In recent years, the PKR has depreciated significantly against the USD and other major currencies, causing inflation, trade deficits, and political unrest.

The currency rate of Pakistan in May 2024 is expected to be influenced by various factors, including economic policies, political stability, global market trends.

Dollar currency exchange rate

The impact of exchange rates on Pakistan’s economy cannot be overstated. From affecting the cost of imported goods to influencing the competitiveness of exports, these rates are intertwined with the country’s financial well-being.

The strength of any currency is assessed by analyzing factors such as foreign exchange market trends, inflation rates, local economic growth, central bank policies and the country’s gross domestic product.

Dollar price in Pakistan

Due to the inflows into the country, the rupee is likely to weaken further against the dollar. The interbank dollar started the day down by 79 paisa to settle at Rs 282.25 against the rupee. The main reasons behind the stability of the Kuwaiti dinar are its economic stability and tax-free regime due to its oil reserves.

US Dollar (USD)278.80281.50
British Pound (GBP)354.00356.50
Saudi Riyal (SAR)74.3575.05
Emirates Dirham (AED)76.2076.95
Turkish Lira (TRY)8.0010.00
EURO (EUR)303.50306.50
Japanese Yen (JPY)1.851.90
Australian Dollar (AUD)181.50184.50
Canadian Dollar (CAD)204.50207.00
Thailand Baht (THB)7.508.75
Chinese Yuan (RMB)37.0041.50
Inter Bank279.90

The increase in the price of the American currency in the interbank could not stop. On the fourth day of the business week, the price of the dollar has increased by 29 paise in the interbank, after which the American currency is trading at 287 rupees 75 paise in the interbank.

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Fahad Munir

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