Current USD Dollar Price in Pakistan

As of August 26, 2024, the exchange rate of the US Dollar (USD) against the Pakistani Rupee (PKR) varies slightly between the interbank market and the open market in Pakistan. In the interbank market, the USD was trading at approximately 278.4 PKR. However, in the open market, the buying rate was around 279 PKR, while the selling rate was close to 280.1 PKR.

These fluctuations in exchange rates are influenced by several factors, including market demand and supply, inflation rates, interest rates, and the overall economic and political stability of the country. For instance, recent increases in foreign reserves and government interventions can impact the USD to PKR rate. Additionally, global economic conditions, such as interest rate changes by the Federal Reserve in the United States, also play a crucial role in determining these exchange rates.

Understanding these rates is crucial for businesses, investors, and individuals who deal with foreign currency transactions. It can affect import and export prices, travel expenses, and even remittances. For example, if the dollar strengthens against the rupee, importing goods into Pakistan becomes more expensive, potentially increasing the cost of living. Conversely, a stronger rupee makes imports cheaper but could negatively affect exports by making them more expensive for foreign buyers.

To manage these fluctuations, the State Bank of Pakistan (SBP) may intervene to stabilize the currency by adjusting interest rates, controlling the money supply, or using foreign exchange reserves to influence the currency value. Monitoring these rates and understanding the underlying factors can provide insights into the economic health of the country and guide financial decision-making.