On July 1, 2023, the Pakistani rupee’s exchange rates against major currencies were updated in the open market. These rates, subject to fluctuations driven by market forces and currency demand, provide insight into the value of the Pakistani rupee in relation to other currencies.
For one US dollar (USD), the buying rate was Rs 287.00, while the selling rate was Rs 290.00. Similarly, the buying rate for one Saudi Riyal (SAR) was Rs 75.20, with a selling rate of Rs 76.00. The buying rate for one Euro (EUR) stood at Rs 310.00, while the selling rate was Rs 313.10. Regarding the UK Pound Sterling (GBP), the buying rate was Rs 360.00, and the selling rate was Rs 363.00. Finally, for one UAE Dirham (AED), the buying rate was Rs 78.00, and the selling rate was Rs 78.80. These rates are provided at 8:00 AM Pakistan Standard Time (PST) and are subject to change throughout the day.
It’s important to note that buying rates represent the rate at which exchange companies or banks purchase foreign currency from customers while selling rates reflect the rate at which they sell foreign currency to customers. The exchange rates are determined by market dynamics and the demand and supply of currencies.
These rates play a crucial role in various sectors, including trade, tourism, and foreign investment. Individuals and businesses involved in international transactions rely on these rates to determine the value of their currency holdings and make informed decisions.
It’s worth mentioning that these rates can vary depending on the location and the exchange company or bank involved in the transaction. Market forces influence the exchange rates, making them susceptible to fluctuations.
Disclaimer: The exchange rates provided by Team Themarkhortimes.com are subject to change every hour. The rates mentioned in this article were accurate at the time of posting, but Team Themarkhortimes.com is not responsible for any inaccuracies or inconsistencies in the data.
The exchange rates of the Pakistani rupee against major currencies on July 1, 2023, reflect the current value of the currency in the open market. These rates are essential for individuals and businesses engaged in international transactions and serve as a benchmark for currency conversions.