The US Dollar exchange rate against the Pakistani Rupee (PKR) stood at Rs 278.75 in the open market on Tuesday, October 10, 2023. This is a slight appreciation of 0.37% from the previous day’s closing rate of Rs 279.9580.
In the interbank market, the US Dollar was quoted at Rs 281.379725 against the PKR, a depreciation of 0.10% from the previous day’s closing rate of Rs 281.65.
Exchange rates can vary based on the location and the Exchange Company or bank involved in the transaction.
USD to PKR Exchange Rate in Pakistan Today
|DATE||EXCHANGE RATE (PKR)|
|10 October 2023||Rs. 281.65|
|9 October 2023||Rs. 281.65|
Here is a more detailed analysis of the US Dollar exchange rates in Pakistan today:
- The US Dollar has been on a downward trend against the PKR in recent weeks, with the Pakistani Rupee emerging as the world’s top-performing currency against the US Dollar over the past month.
- This appreciation of the PKR is attributed to a number of factors, including:
- Increased inflows of remittances from overseas Pakistanis
- Improved export performance
- Stable political and economic conditions
- The US Dollar is expected to remain under pressure against the PKR in the coming weeks, as the positive factors mentioned above continue to support the Pakistani Rupee.
Here are some implications of the current US Dollar exchange rates for Pakistan:
- The weaker US Dollar will make imports cheaper, which could boost domestic consumption and economic growth.
- It will also make Pakistani exports more competitive in the global market, which could lead to increased exports and higher foreign exchange earnings.
- However, the weaker US Dollar could also lead to inflationary pressures, as the cost of imported goods increases.
Overall, the current US Dollar exchange rates are positive for the Pakistani economy. The weaker US Dollar will make imports cheaper and exports more competitive, which could boost economic growth. However, it is important to monitor inflationary pressures closely to ensure that the benefits of the weaker US Dollar are not offset by higher prices.