KARACHI – Pakistani rupee continues to shine over various foreign currencies in open market as the buying and selling rates of Euro, Saudi Riyal and UK Pound recorded no major changes on Saturday.
On August 2, US Dollar’s buying rate slipped Rs284.7 while selling rate hovered at Rs285.4, according to forex.pk
Euro’s (EUR) buying rate stood at Rs324.35 and the selling rate at Rs325.8 while UK Pound buying rates settled at Rs375.1 and selling Rs376.6.
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 | 284.7 | 285.4 |
| Euro | EUR | 324.35 | 325.8 |
| UK Pound Sterling | GBP | 375.1 | 376.6 |
| Australian Dollar | AUD | 182 | 187 |
| Bahrain Dinar | BHD | 753.3 | 763.3 |
| Canadian Dollar | CAD | 204 | 209 |
| China Yuan | CNY | 39.03 | 39.43 |
| Danish Krone | DKK | 44.2 | 44.6 |
| Hong Kong Dollar | HKD | 35.79 | 36.14 |
| Indian Rupee | INR | 3.14 | 3.23 |
| Japanese Yen | JPY | 1.86 | 1.96 |
| Kuwaiti Dinar | KWD | 919.95 | 931.95 |
| Malaysian Ringgit | MYR | 66.31 | 66.91 |
| New Zealand Dollar | NZD | 165.69 | 167.69 |
| Norwegian Krone | NOK | 27.32 | 27.62 |
| Omani Riyal | OMR | 738.2 | 748.2 |
| Qatari Riyal | QAR | 77.24 | 77.94 |
| Saudi Riyal | SAR | 75.8 | 76 |
| Singapore Dollar | SGD | 217.25 | 222.25 |
| Swedish Korona | SEK | 28.81 | 29.11 |
| Swiss Franc | CHF | 346.94 | 349.69 |
| Thai Baht | THB | 8.53 | 8.68 |
| UAE Dirham | AED | 77.5 | 77.7 |
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.