The US dollar to Pakistani rupee (PKR) exchange rate is Rs. 279.51 today on October 12, 2023. This is the interbank rate, which is the rate at which banks exchange currencies with each other. The open market rate, which is the rate at which you can exchange currency at banks and currency exchange bureaus, is usually slightly higher.
Impact on the Pakistani Economy
The dollar to PKR exchange rate has a significant impact on the Pakistani economy. A stronger rupee makes imports cheaper and exports more expensive. This can boost economic growth by making Pakistani products more competitive in the global market. However, it can also lead to inflation, as the prices of imported goods rise.
A weaker rupee makes imports more expensive and exports cheaper. This can lead to inflation and a decline in economic growth. However, it can also make Pakistani products more competitive in the global market.
|DATE||EXCHANGE RATE (PKR)|
|12 October 2023||Rs. 279.51|
|11 October 2023||Rs. 279.51|
Implications for Travelers and Businesses
The dollar to PKR exchange rate is also important for travelers and businesses. A stronger rupee means that travelers will get more Pakistani rupees for their money. This can make Pakistan a more affordable destination for tourists. However, it also means that Pakistani businesses will earn less revenue from exports.
A weaker rupee means that travelers will get fewer Pakistani rupees for their money. This can make Pakistan a more expensive destination for tourists. However, it also means that Pakistani businesses will earn more revenue from exports.
How to Get the Best Exchange Rate
If you are planning to travel to Pakistan, or if you need to send or receive money from Pakistan, it is important to be aware of the current exchange rate and compare the rates offered by different providers. You should also be aware of any fees that may be charged.
Here are some tips for getting the best exchange rate:
- Compare rates from different providers before you exchange currency.
- Ask about any fees that may be charged.
- Avoid exchanging currency at airports, as the rates are often less favorable.
- If you are exchanging a large amount of money, you may be able to negotiate a better rate with your bank or currency exchange bureau.