Related Articles
The value of the Pakistani rupee against the US dollar (USD) has been fluctuating in the past few weeks and months, and today it took an interesting turn. Here’s what happened to the dollar rate in Pakistan today – read on to find out more!
Historical data
The Pakistani Rupee is the currency of Pakistan and six other countries, these are mostly Islamic states. The Pakistani Rupee is subdivided into 100 paisa. One US Dollar today open market exchange rate converts to 114.06 Pakistani Rupees.
Forecast for 2018
The dollar rate has seen some decline this year with current forecast to end at Rs. 120 for a dollar. However, the risks are higher than rewards given the uncertainties and turbulence within the markets, and so investing may not be a good idea right now.
The INR/USD exchange rate is expected to remain under pressure through 2018. Due to expectations of continued US interest rates hikes coupled with widening trade deficit, the INR/USD exchange rate is predicted to end at Rs 120 by December 2018. The economic data so far also indicates less-than-stellar prospects for India’s economy and may put pressure on the INR/USD exchange rate as well.
Factors affecting the dollar rate
The dollar rate fluctuates daily due to a number of factors, including the following:
-Foreign demand for local currency drives up the exchange rate.
-The current account deficit and budget deficit drive up pressure on the exchange rate. -Local investment decisions cause short term changes in exchange rates.
Real time market updates
Rates for the US Dollar are always changing and today is no exception. Here are the latest numbers from the market to help you out:
$1 US Dollar → Rs. 114.00 Pakistani Rupees (OPEN MARKET)
$1 US Dollar → Rs. 114.00 Pakistani Rupees (OPEN MARKET)
How much is $1 US in Pakistan today?
Pakistani Rupees, or Rs, are the unit of currency that is used in Pakistan. The current exchange rate for one USD is 88.84 Pakistani Rupees. The easiest way to convert between currencies is by going to Google and doing a search for 1 USD = how many Pakistani Rupees? Just enter 1 USD into the search bar and then either click on one of the first few conversion results or type 1 into a text field at the top of your browser window, which will tell you how many Rs it equals. This site will also help you find up-to-date currency information by clicking on any country you wish to see prices for with a simple click, like Morocco or Singapore.
What is the USD buying rate today?
– The Dollar has opened at PKR 114.00 against the PKR 100 per USD at the close of business yesterday.
– US $100 would buy you PKR 1150 on the open market, today, giving a rate of 1 USD = 113.50 PKR.
– Today’s open market rates for these currencies are 114 PKR for each dollar, 166 for euros and 147 for British pounds and Japanese yen respectively.
– This is an increase from yesterday when the dollar traded at a much weaker 112 rate with respect to its opening level of 109 which was last seen on October 3rd of this year.
Conclusion
On the 1st of June, 2016, the open market for dollar rate ended at a price of 114.5 rupees per dollar. This is an increase from the price of 113.6 rupees on the 25th of May 2016. The currency rate that day was even greater than when closed at 111 rupees per dollar, which was recorded on 1st March 2016 and 118 rupees on 26th February 2016 respectively. Therefore it seems that when markets are volatile in terms of economic variables (stocks and shares), there is a sharper increase in dollar rates as investors seek to trade out of their assets in less stable markets by purchasing other assets such as commodities and foreign exchange to hedge against any losses due to short-term shocks or risk factors impacting their portfolio performance.
