KARACHI – Pakistani rupee remained largely stable against various foreign currencies in open market as the buying and selling rates of Euro, Saudi Riyal and UK Pound recorded no major changes on Wednesday.
On July 23, US Dollar’s buying rate stood at Rs288.1, while selling rate hovered at Rs288.8, according to forex.pk
Euro’s (EUR) buying rate stood at Rs334.4 and the selling rate at Rs338.4 while UK Pound buying rates settled at Rs386.4 and selling Rs390.4.
Several currencies, including the Australian Dollar (AUD), Canadian Dollar (CAD), Chinese Yuan (CNY), Danish Krone (DKK), Japanese Yen (JPY), Kuwaiti Dinar (KWD), Malaysian Ringgit (MYR), New Zealand Dollar (NZD), and Swiss Franc (CHF), showed no change in their rates compared to the previous update.
Currency Exchange Rates Today
| Currency | Symbol | Buying (Rs) | Selling (Rs) |
|---|---|---|---|
| US Dollar | USD | 288.1 | 288.8 |
| Euro | EUR | 334.4 | 338.4 |
| UK Pound Sterling | GBP | 386.4 | 390.5 |
| Australian Dollar | AUD | 185.9 | 190.9 |
| Bahrain Dinar | BHD | 762.9 | 772.9 |
| Canadian Dollar | CAD | 210.4 | 215.4 |
| China Yuan | CNY | 39.18 | 39.58 |
| Danish Krone | DKK | 44.17 | 44.57 |
| Hong Kong Dollar | HKD | 35.81 | 36.16 |
| Indian Rupee | INR | 3.22 | 3.31 |
| Japanese Yen | JPY | 1.92 | 2.02 |
| Kuwaiti Dinar | KWD | 931.7 | 943.7 |
| Malaysian Ringgit | MYR | 66.4 | 67 |
| New Zealand Dollar | NZD | 167.36 | 169.36 |
| Norwegian Krone | NOK | 27.53 | 27.83 |
| Omani Riyal | OMR | 747.7 | 757.7 |
| Qatari Riyal | QAR | 77.43 | 78.13 |
| Saudi Riyal | SAR | 76.85 | 77.5 |
| Singapore Dollar | SGD | 222 | 227 |
| Swedish Korona | SEK | 29 | 29.3 |
| Swiss Franc | CHF | 352.88 | 355.63 |
| Thai Baht | THB | 8.57 | 8.72 |
| UAE Dirham | AED | 78.5 | 79.4 |
Currency exchange rates determine the value of one currency in relation to another. These rates are essential for international trade, travel, and investment. When exchange rates fluctuate, they affect the prices of goods and services between countries.
For example, a strong domestic currency can make imports cheaper but exports more expensive, influencing trade balances.
Exchange rates also impact inflation, interest rates, and economic growth. Governments and central banks monitor and sometimes intervene in exchange markets to stabilize their economies. Investors and businesses closely follow exchange trends to make informed financial decisions.
Overall, currency exchange rates play a vital role in shaping global economic dynamics and national financial health.
