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US Dollar expected to drop by Rs50 against Pakistani rupee in coming year: report

10:13 AM | 12 Apr, 2024
US Dollar expected to drop by Rs50 against Pakistani rupee in coming year: report
Source: File Photo

KARACHI – Pakistani rupee is expected to strengthen by a staggering Rs55, or approximately 20pc, in the coming year, potentially reaching as high as 220 against the US Dollar.

A report shared by ProPakistani said the greenback will take a dip against PKR. 

With falling inflation, there could be further decreases in interest rates, easing pressure on the exchange rate, the recent report, quoting an anonymous former State Bank official said.

Investment banking company Goldman Sachs earlier predicted a similar trend for the Pakistani rupee, stating it was nearly 20pc undervalued and offered about 26pc nominal carry over a 12-month period.

The report further mentioned that macroeconomic factors would be influenced by political stability. It also mentioned that external financing risks would be managed as Pakistan moves towards an extended program with the global lender. 

Daily Pakistan Global Web Desk

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Pakistani Rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 27 May 2024

Pakistani currency rates against US Dollar and other currencies on May 27, 2024 (Monday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.25 for buying and 280 for selling.

Euro moved down to 297 for buying and 300 for selling while British Pound rate is 349.5 for buying, and 353 for selling.

UAE Dirham AED was at 75.15 and Saudi Riyal came down to 73.35.

Currency Symbol Buying Selling
US Dollar USD 277.25 280
Euro EUR 297 300
UK Pound Sterling GBP 349.5 353
U.A.E Dirham AED 75.15 75.85
Saudi Riyal SAR 73.35 74.1
Australian Dollar AUD 183 184.8
Bahrain Dinar BHD 740.75 748.75
Canadian Dollar CAD 203 205
China Yuan CNY 38.47 38.87
Danish Krone DKK 40.52 40.92
Hong Kong Dollar HKD 35.68 36.03
Indian Rupee INR 3.35 3.46
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 907.57 916.57
Malaysian Ringgit MYR 59.39 59.99
New Zealand Dollar NZD 170.03 172.03
Norwegian Krone NOK 25.92 26.22
Omani Riyal OMR 723.64 731.64
Qatari Riyal QAR 76.42 77.12
Singapore Dollar SGD 203 205
Swedish Korona SEK 26.02 26.32
Swiss Franc CHF 304.75 307.25
Thai Baht THB 7.67 7.82

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