The exchange rate between the United States dollar (USD) and the Pakistani rupee (PKR) as of August 29, 2023, is Rs. 303.54. The State Bank of Pakistan (SBP) provided the closing exchange rate at the end of the business day.
The State Bank of Pakistan (SBP) releases the interbank closing rate for the conversion of the United States Dollar (USD) to the Pakistani Rupee (PKR) in the last hour of each business day, which is from Monday through Friday.
As opposed to the interbank rate provided by financial institutions to individuals in order to purchase foreign currency, the exchange rate between the United States Dollar (USD) and the Pakistani Rupee (PKR) in the open market typically exhibits a little increase. It is crucial to understand that all incoming payments are credited to customers’ bank accounts based on interbank rates.
The current buying exchange rate between the United States Dollar (USD) and the Pakistani Rupee (PKR) is 319, according to the Pakistan Open Market. Similar to that, PKR 319 is listed as the selling exchange rate for 1 USD.
The rate at which a bank or exchange company purchases foreign currency from a person is known as the buying rate, and the rate at which they sell foreign currency to a customer is known as the selling rate.
The open market prices and market forces, which are propelled by the demand for foreign currency, have an impact on the determination of the exchange rate between the US Dollar and Pakistani Rupee.
USD to PKR Exchange Rate in Pakistan Today
| DATE | EXCHANGE RATE (PKR) | CHANGE (PKR) |
|---|---|---|
| 29 August 2023 | Rs. 302.00 | – |
| 28 August 2023 | Rs. 302.00 |