1 USD to PKR = 301.97
As on Saturday August 26, 2023 10:53:42 AM
Welcome to USD to PKR:
|US Dollar USD||301.42|
|Saudi Riyal SAR||84.62|
|UAE Dirham UAE||86.28|
|UK Pound GBP||403.90|
|Canadian Dollar CAD||232.45|
Last Updated on Saturday August 26, 2023 10:53:42 AM
IF we delve into a bit of details regarding the USD to PKR exchange rate, it’s no news that the USD has always dominated the PKR by a large margin. In fact during the past decade it’s difficult to determine a point where the 1 Dollar to PKR Forex was ever below USD1:PKR100.
Will the Dollar to Pakaistani Rupee ever devalue? Part of the reason is also that is due to our adverse balance of payments, which has an ever increasing import bills (USD to PKR) of more expensive finished goods and luxury items rather than capital machinery or skills against declining exports which are mainly based on low value agriculture products rather than finished goods and that too in an era where technology/IT products and services are higher value with a more elastic supply chain. Whilst Pakistan has one of the largest supply of IT services exports on low value high population natured services, the truth is that this potential and the relevant amount of exports to date remains untapped. Not only is the government not encouraging and establishing a proper infrastructure for such IT related services, but also the existing law fails to recognize a large scope of these services due to outdated laws, hence forcing people to keep all their money earned through this outside the country and such services not even being included under the scope of exports.
History of USD to PKR:
With several government changes and each with a polar opposite vision of how the economy can grow, the currency PKR has more often than not suffered against the USD due to severe devaluation thanks to how much the institutions favor high interest rates. USDtoPKR.pk Ever since the last government came into power in 2018, the USD to PKR forex started from USD1:PKR139 and gradually increased to USD1:PKR178. However when the government was changed during the start of the second quarter, the Dollar rose to an all-time high of Over Rs.240 per Dollar until this month when the Dollar to PKR devalued to USD1:PKR218 and is floating around that point since. Whilst the dollar is not expected to fall anytime soon, the inflation this increase in USD to PKR has bought about is bound to devalue the PKR against the USD in the long term unless drastically efficient and result inducing economic policies accompanied by massive investment, aggregate supply increase and GDP growth takes place to stabilize the PKR against the threats it faces both domestically and internationally.
What is Forex USD to PKR RATES? A Currency is one of the most integral building blocks of the economy of any country used as a medium of exchange, store of value as well as an accurately quantifiable and quantitative measure to assign value to things, goods and services. While every country in the global economy has its own currency, some currencies due to strong economies and favorable trade policies globally have had a significant reflection of these strengths in their currency, which have become predominantly stronger and have an advantage and protection against devaluation due to purely domestic pressures, thanks to the significant demand overseas as well. A great example for this can be the US Dollar ($) which has stood the test of time and fared through the worst American recessions in history, yet continues to be the most powerful currency in the world purely due to it being the backbone of global trade.
How is Forex Determined?
Exchange rates are determined by the Forex policy set by the government. Dollar to PKR It can either be the more popular floating exchange rate which used natural principles of supply and demand of the currency to determine its value against the world’s other currencies or it can be a fixed or pegged exchange rate which has the rate pegged or fixed at a specific country’s currency or a specific value.
The Math behind Forex:
While on its face Forex rates seem seemingly simple, there is a world of complex calculations being rendered every second to determine the exchange rate as at that point in time for every currency against another for instance the Dollar to PKR forex rates. Not only is the forex effected by the domestic macroeconomic indicators of the country of a currency, it also increases or decreases in response to changes in the currency it is being compared against. For instance the PKR to USD forex rates may be devalued due to the current volatile political situation of Pakistan taking its adverse toll on inflation and purchasing power parity or it may be devalued by the strengthening of the USD against PKR owing to rapid GDP growth of USA. Other factors effecting Forex are macroeconomic indicators like Unemployment, inflation, GDP, interest rates and even speculations about the performance of a particular economy.
From the last 4 years Pakistani rupee lose their value drastically, From the beginning of year 2019 Pakistani rupee average price is 110 Rupees for 1 US Dollar and now after for year is now at 225 rupees in interbank and unofficially 245 rupee in open market and still dollar not available at 245 in open market. People who want to travel abroad need foreign currency and when he go to open market to buy dollar and other currencies they face huge disappointment even at price 250 foreign currency or dollar are not available.
Nowadays, it is very difficult to buy dollars, whether you want to go to another country or you want to do business, you do not get dollars, dollars are very expensive in the open market, while nowadays even dollars are not available from interbank, (USD to PKR) which The main reason is the shortage of dollars in the country. On our website you will find the updated rate of dollar, which will be according to the Pakistani market and interbank, it is hoped that the problem of shortage of dollars in the country will be solved soon and the people will be able to quickly and easily. Even today, the value of the Pakistani rupee has decreased against the dollar and it is expected that it may decrease further in the coming time, but the value of the rupee may also increase if the economic condition of Pakistan get better.