PKR INTERBANK EXCHANGE RATES
Latest insights on the Pakistani Rupee (PKR) with the most recent Interbank Exchange Rates for mark-to-market revaluation, as provided by the State Bank of Pakistan (SBP).
PKR INTERBANK EXCHANGE RATES ON FEBRUARY 15, 2024
| Currency | Rate |
|---|---|
| USD | 279.38 |
| EUR | 299.86 |
| GBP | 350.51 |
| JPY | 1.8610 |
| AED | 76.07 |
| SAR | 74.49 |
In the interbank session on Thursday, the value of the Pakistani Rupee (PKR) slightly declined compared to the US dollar, the PKR closed at 279.38 per USD, a slight decline from the previous session’s ending of 279.32 per USD.
PKR OPEN MARKET EXCHANGE RATES
The Pakistani Rupee (PKR) has shown varying levels of strength against a basket of major currencies. Here’s a closer look at the buying and selling rates as reported by ECAP: Today’s Rates will be updated shortly!
PKR OPEN MARKET EXCHANGE RATES ON FEBRUARY 14, 2024
| Currency | Buying | Selling |
|---|---|---|
| USD | 279.14 | 281.59 |
| EUR | 298.41 | 301.17 |
| GBP | 350.55 | 353.72 |
| JPY | 1.83 | 1.86 |
| AED | 76.05 | 76.75 |
| SAR | 74.27 | 74.95 |
USD TO PKR
The cornerstone of global finance, the USD, has a buying rate of 279.14 PKR and a selling rate of 281.59 PKR. The US Dollar’s performance is a key indicator of Pakistan’s economic interactions with the global market, affecting everything from import costs to foreign debt repayments.
POLITICAL WINDS AND ECONOMIC TIDES
The financial markets have been closely monitoring the political developments following the recent elections, which have ushered in a new government. Despite the optimism typically associated with such transitions, the prevailing political uncertainty has cast a long shadow over the economic landscape. The election results, suggesting increased political instability, have raised concerns about Pakistan’s growth trajectory and its ability to secure crucial International Monetary Fund (IMF) aid. This assistance is deemed essential for the country to avert a potential default.
IMPACT ON FINANCIAL MARKETS
The continuous political flux has left its mark on the financial markets, with the PKR’s depreciation being a symptom of the broader concerns affecting investor confidence and economic prospects. Bloomberg highlights the adverse impacts of political instability on the country’s efforts to stabilize its economy and secure international financial support. Moreover, Pakistan Stock Exchange (PSX) also witnessed a decline of (1.82%)
