KARACHI—In the local and open market, the exchange rate for one US Dollar against Pakistani rupees witnessed no change due to a public holiday on May 28 as it stood at Rs 282.55 with a selling rate of Rs 284.25 on Thursday.
Note: Exchange rates can vary based on the location and the Exchange Company or bank involved in the transaction. Below are the foreign and local exchange rates for the US Dollar, UK Pound Sterling, European Euro, UAE Dirham, Saudi Riyal, and other foreign currencies in Pakistan’s open market.
| Currency | Buying | Selling | |
| US Dollar | USD | 282.55 | 284.25 |
| Euro | EUR | 322.25 | 325 |
| UK Pound | GBP | 383.7 | 387 |
| UAE Dirham | AED | 76.9 | 77.55 |
| Saudi Riyal | SAR | 75.3 | 75.85 |
| Australian Dollar | AUD | 185.25 | 187.5 |
| Bahrain Dinar | BHD | 749 | 757 |
| Canadian Dollar | CAD | 207.6 | 210 |
| China Yuan | CNY | 37.59 | 37.99 |
| Danish Krone | DKK | 42.23 | 42.63 |
| Hong Kong Dollar | HKD | 35.64 | 35.99 |
| Indian Rupee | IND | 3.2 | 3.29 |
| Japanese Yen | JPY | 2 | 2.06 |
| Kuwaiti Dinar | KWD | 913.3 | 922.8 |
| Malaysian Ringgit | MYR | 65.38 | 65.98 |
| New Zealand Dollar | NZD | 166.1 | 168.1 |
| Norwegians Krone | NOK | 27.3 | 27.6 |
| Omani Riyal | OMR | 733.5 | 742 |
| Qatari Riyal | QAR | 76.85 | 77.55 |
| Singapore Dollar | SGD | 221 | 223 |
| Swedish Korona | SEK | 28.98 | 29.28 |
| Swiss Franc | CHF | 335.55 | 338.35 |
| Thai Bhat | THB | 8.42 | 8.57 |
The forex rates are subject to change based on market forces and foreign currency demands, although they are updated at 09:00 AM on Pakistan Standard Time (PST).
Currency exchange is the process of converting one country’s currency into another for travel, trade, or investment. It plays a vital role in international business and finance, enabling cross-border transactions and global commerce.
Exchange rates fluctuate due to economic factors such as inflation, interest rates, and geopolitical stability. Individuals often use currency exchange services when traveling, while businesses rely on it for importing and exporting goods.
Forex markets, where currencies are traded, are among the largest financial markets in the world. Accurate and timely exchange helps maintain economic balance and supports the smooth functioning of the global financial system.
