The value of the Pakistani rupee fluctuated against major foreign currencies on Tuesday.
The Rupee experienced minor losses against the US dollar which reached a buying prince of Rs 279.00 and was sold at Rs 280.70
The British pound also saw a slight rise, trading at Rs 366.45 for buying and Rs370.10 for selling.
The rupee made slight gainst against the Euro that was bought at Rs 307.70 and sold at Rs 310.75.
Meanewhile, among Gulf region currencies, the Saudi riyal traded at Rs 73.80 for buying and Rs 74.53 for selling, while the UAE dirham was bought at Rs 75.55 and sold at Rs 76.30.
Other notable rates include the Australian dollar at Rs 186.50 for buying and Rs 189.50 for selling, and the Canadian dollar at Rs203.00 and Rs207.50, respectively.
Premium currencies such as the Omani rial, Bahraini dinar, and Kuwaiti dinar continued to hold their higher values.
The Omani rial was bought at Rs 719.45 and sold at Rs 726.60, while the Bahraini dinar stood at Rs 733.60 for buying and Rs740.90 for selling.
The Kuwaiti dinar topped the chart, trading at Rs 900.50 for buying and Rs 909.50 for selling.
Photo: NBP Exchange Company Limited
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.
Earlier, yesterday The indicative buying rate for the US dollar stood at Rs 278.50, with the selling price at Rs 280.70.
The British pound is being bought at Rs 365.20 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.
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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