The latest currency exchange rates have been updated, showing minor gains the Ruppee has made against the USD and other major currencies.
The indicative buying rate for the US dollar stands at Rs 278.50, with the selling price at Rs 280.70.
The British pound is being bought at Rs365.20 and sold at Rs 368.85. Meanwhile, the euro is listed at Rs 308.70 for buying and Rs 311.80 for selling.
The rates for other currencies include the Saudi riyal, with a buying price of Rs 73.85 and a selling price of Rs 74.58, while the UAE dirham is being bought at Rs 75.55 and sold at Rs 76.30.
Pakistan fluctuations in its exchange rate are influenced by several factors. This mainly focuses on seven key variables, aside from the exchange rate itself.
These variables are exports, imports, stock price index, foreign reserves excluding gold, industrial production, wholesale price index, and money supply. It is believed that these seven factors significantly impact the exchange rate.
The Open Market Dollar rate in Pakistan is typically linked to the unrestricted flow of trade, with no barriers or restrictions on the buying and selling of goods between nations, allowing equal opportunities for demand and supply.
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