USD to PKR Exchange Rates : USD Dollar Exchange Rate in Pakistan Today – 16 August 2023

USD to PKR Exchange Rates Rises to Rs 301.5 in Open Market

The US Dollar (USD) rose to Rs 301.5 in the open market against the Pakistani Rupee (PKR) on Wednesday, August 16, 2023. This is an increase of Rs 2.0 from the previous day’s closing rate of Rs 299.5.

The rise in the USD to PKR exchange rate is being attributed to a number of factors, including the ongoing political and economic instability in Pakistan. The country is currently facing a number of challenges, including a widening trade deficit, rising inflation, and a depreciating currency.

The USD to PKR exchange rate is also being affected by the global economic situation. The US Federal Reserve is expected to raise interest rates in the coming months, which is likely to make the USD more attractive to investors. This could lead to further depreciation of the PKR.

The rising USD to PKR exchange rate is a major concern for the Pakistani government. The government is trying to take steps to stabilize the economy, but it is facing an uphill battle. The rising exchange rate is making it more expensive for Pakistanis to import goods and services, which is contributing to inflation. It is also making it harder for Pakistanis to send money abroad, which is impacting the economy.

The government is hoping that the IMF will approve a bailout package for Pakistan, which would help to stabilize the economy. However, the IMF is likely to demand tough reforms from the Pakistani government in return for the bailout package. It remains to be seen whether the Pakistani government will be able to implement these reforms.

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In the meantime, the rising USD to PKR exchange rate is likely to continue to cause problems for the Pakistani economy. Pakistanis should brace for further depreciation of the PKR in the coming months.

USD to PKR Exchange Rates

Currency
Buying
Selling
US Dollar Rs 301.5 Rs 303.5
  • The USD to PKR exchange rate has been on a downward trend for the past few years, but it has started to rise in recent months.
  • The Pakistani rupee is the world’s worst-performing currency in 2023.
  • The depreciation of the Pakistani rupee is making it difficult for Pakistanis to import goods and services, which is contributing to inflation.
  • The government is trying to take steps to stabilize the economy, but it is facing an uphill battle.
  • The IMF is likely to demand tough reforms from the Pakistani government in return for a bailout package.
  • Pakistanis should brace for further depreciation of the Pakistani rupee in the coming months.

Foreign Currency Exchange Rates in Pakistan on August 16, 2023 (Open Market)

Currency
Symbol
Buying
Selling
US Dollar to PKR USD Rs 301.5 Rs 303.5
Canadian Dollar to PKR CAD Rs 224.8 Rs 227
Australian Dollar to PKR AUD Rs 200 Rs 202
Euro to PKR EUR Rs 324.8 Rs 328
UK Pound Sterling to PKR GBP Rs 379.3 Rs 383
UAE Dirham to PKR AED Rs 83 Rs 83.8
Saudi Riyal to PKR SAR Rs 80.5 Rs 80.8
Omani Riyal to PKR OMR Rs 752.76 Rs 760.76
Qatari Riyal to PKR QAR Rs 79.62 Rs 80.32
Kuwaiti Dinar to PKR KWD Rs 942.2 Rs 951.2
Japanese Yen to PKR JPY Rs 2.02 Rs 2.1
Chinese Yuan to PKR CNY Rs 39.83 Rs 40.23
Indian Rupee to PKR  INR Rs 3.48 Rs 3.59
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