KARACHI: The average customer rates of buying and selling of US dollar (USD) against Pakistani rupee (PKR) are Rs169.5 and Rs171 at 09:32 am PST on November 4, 2021.The USD remains stable against the PKR when compared with the buying and selling of Rs169.5 and Rs171 on November 3, 2021.
The exchange rate is based on the average buying and selling of foreign currency by various exchange companies in the open market.Buying denotes the rate of buying by exchange companies from customers.Selling denotes the rate of selling by exchange companies to their customers.
(Disclaimer: The currency exchange rates by Bolnews.com have been obtained from various sources of the money market. The rates are only for information and are not intended as a suggestion or recommendation to trade. The exchange rates are subject to fluctuation during the day. Therefore, the rates given above may vary at any other during the day.)
The currency rate was roughly 1 USD = 171.5 PKR on November 4, 2021. This figure represented the ongoing stresses on the economy of Pakistan, such as:
Pakistan saw increased rates of inflation, which reduced the PKR’s buying power.
A significant trade imbalance—a situation in which imports exceeded exports—boosted demand for the US dollar.
Significant foreign exchange reserves were needed, mostly in USD, in order to pay off international debt.
The quantity of US dollars available on the market was impacted by changes in Pakistan’s foreign exchange reserves.
Also Read:Pakistani Rupee Hits Milestone: 22-Month High vs USD
