Karachi, June 2nd, 2023: The Forex Association of Pakistan (FAP) has released the opening rates of foreign currencies in the kerb market. Here are the rates for various currencies in comparison to the Pakistani Rupee (PKR):
- U.S. Dollar (Inter Bank): The buying rate for the U.S. dollar in the interbank market stood at PKR 285.25, while the selling rate was PKR 285.55.
- U.S. Dollar (Cash Free Market): In the cash free market, the buying rate for the U.S. dollar was PKR 299.00, and the selling rate reached PKR 302.00.
- Saudi Riyal: The Saudi Riyal’s buying rate was PKR 77.75, while the selling rate was PKR 78.55.
- UAE Dirham: The buying rate for the UAE Dirham was PKR 79.50, and the selling rate stood at PKR 80.30.
- Euro: In the kerb market, the Euro was being bought at PKR 310.30, while the selling rate reached PKR 315.00.
- UK Pound: The buying rate for the UK Pound was PKR 362.00, and the selling rate stood at PKR 368.00.
- Australian Dollar: The Australian Dollar’s buying rate was PKR 188.50, while the selling rate reached PKR 193.00.
- Canadian Dollar: In the kerb market, the Canadian Dollar was being bought at PKR 213.50, and the selling rate stood at PKR 218.00.
- Indian Rupee (New Edition): The buying rate for the Indian Rupee (New Edition) was PKR 3.30, while the selling rate stood at PKR 3.70.
- Chinese Yuan: The Chinese Yuan’s buying rate was PKR 44.00, and the selling rate reached PKR 48.00.
- Afghani Rupee: In the kerb market, the Afghani Rupee was being bought at PKR 3.00, while the selling rate stood at PKR 3.50.
These rates are subject to fluctuation throughout the day due to various economic factors and market dynamics. It is advisable for individuals and businesses involved in foreign currency transactions to stay updated with the latest rates before engaging in any exchange activities.
The Forex Association of Pakistan (FAP) is a leading institution that plays a crucial role in providing accurate and reliable information about currency exchange rates. It serves as a valuable resource for market participants, enabling them to make informed decisions regarding foreign currency transactions.
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Please note that these rates are specific to the kerb market and may vary from rates offered by banks or other financial institutions. It is always recommended to consult authorized dealers or financial advisors for precise rates and guidance related to currency exchange.
The rates mentioned above are based on the information provided by the Forex Association of Pakistan (FAP) and are subject to change.
