US Dollar to Pakistani Rupee Open Market Historical Exchange Rates and Impact

The US dollar to Pakistani rupee open market exchange rate has been a subject of interest for many investors and travelers. The exchange rate has fluctuated significantly over the years, with a high of 1 USD = 54.6 PKR in 2017.

Historically, the exchange rate has been affected by various economic and political factors, including inflation, interest rates, and government policies. The rupee has depreciated against the dollar in recent years due to a large trade deficit and a decline in foreign exchange reserves.

In 2018, the exchange rate reached a low of 1 USD = 135 PKR, causing concerns among businesses and individuals who rely on the dollar for imports and exports. The government has implemented various measures to stabilize the exchange rate, including increasing interest rates and imposing restrictions on dollar transactions.

The exchange rate has a significant impact on the Pakistani economy, particularly on inflation and foreign trade.

Take a look at this: How Are Spot Exchange Rates Determined

The exchange rate for US dollar to Pakistani rupees is currently 278.650, reflecting a 0.000% change since yesterday.

International banks, such as Deutsche Bank, Barclays, HSBC, Standard Chartered, and Citi, are involved in fixing the rate of currency exchange in the global market. One central national bank of every country sets exchange rate of currency on daily basis and this process is known as Foreign Exchange Fixing.

The currency exchange rate tells us the worth of our money in foreign currency. If we want to purchase or buy a currency, the exchange rate lets us know how much we would have to pay to purchase that currency.

Exchange rates are determined by foreign exchange traders and are also an indicator of building up or weakening of a currency. You ought to know the buying and selling rate of the concerned currency in the market before getting your currency exchanged.

In Pakistan, currency can be exchanged at various places, including Western Union, Dollar East Money Changer, Pakistan Currency Exchange Co Pvt Limited, and many others. Here are some of the places where you can exchange currency in Lahore:

Exchange rates are affected by three main factors: interest rates, money supply, and economic growth rate. High interest rates make a currency more valuable, while too much money supply can lead to devaluation of the currency.

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