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USD to PKR: Pakistani rupee slumps to all-time low of 283 against dollar in inter-bank market

10:58 AM | 2 Mar, 2023
USD to PKR: Pakistani rupee slumps to all-time low of 283 against dollar in inter-bank market
Source: File Photo

KARACHI – Pakistani rupee plunged drastically to approach an all-time low against the US dollar during the opening hours of the trading session on Thursday.

During the intra-day trading, the rupee was being quoted at 283, a decrease of Rs14.89, against the greenback.

The recent development comes on the heels of further monetary tightening to control inflation at the central bank's emergency Monetary Policy Committee meeting which is due today.

On Wednesday, the local currency witnessed depreciation against the dollar, settling at 266.11.

Experts claim the recent depreciation of the local currency is part of a market correction as IMF demanded to end the significant gap in rates between the open and inter-bank market.

Investor sentiment was also dented amid economic uncertainty due to delay in International Monetary Fund (IMF) funds.

More to follow…

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 22 February 2024

Pakistani rupee remains stable against US dollar and other currencies in the open market on February 22, 2024 (Thursday)

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.6 for buying and 282.4 for selling.

Euro comes down to 300.2 for buying and 303.2 for selling while British Pound rate stands at 350.6 for buying, and 354.1 for selling.

UAE Dirham AED hovers at 76.2 whereas the Saudi Riyal saw slight increase, with new rates at 74.45.

Today’s currency exchange rates in Pakistan - 22 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.6 282.4
Euro EUR 300.2 303.2
UK Pound Sterling GBP 350.6 354.1
U.A.E Dirham AED 76.2 76.95
Saudi Riyal SAR 74.45 75.2
Australian Dollar AUD 181.15 183.15
Bahrain Dinar BHD 743.32 751.32
Canadian Dollar CAD 207.15 209.15
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 902.41 911.41
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.96 733.96
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207.1 209.1
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 316.9 319.4
Thai Bhat THB 7.93 8.08

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