Dollar Rate in Pakistan Today
Latest dollar rate in Pakistan for your information, all the rates are updated regularly to provide you the best information.
1 USD to PKR
Convert 1 USD to PKR from the widget below and get latest dollar price. You have to simply insert number of dollars and the currency converter will automatically convert US dollar to PKR.
Increase/Decrease of Dollar Rate in Pakistan
We will talk about appreciation and depreciation of Pakistani currency against the US dollar. The first thing that comes in our mind is whether appreciation and depreciation of a currency truly depicts the economic condition of a country? When we talk about depreciation and appreciation of the currency, the former tends to reduce the cost of a country's exports and rendering them more competitive in the global market.
This in turn, increases the cost of imports as a result the domestic consumers are less likely to purchase them, further strengthening domestic businesses. It can have negative consequences, i.e. increasing the import prices and exports become cheaper and higher exports relative to imports can increase the aggregate demand which can lead to higher GDP and inflation.
The inflation in the economy rises because the imports are more expensive. Whereas the latter increases the value of the currency in the country. The exports become expensive and the cost of imports reduces which in turn the demand for importable items increases in the economy. Our exports become expensive and make imports cheaper for us that we can buy.
From the last six months, a high rate of the US Dollar and high prices of Gold are observed. The rate of the US dollar against the Pak rupee standing around 225 previously it was very low around Rs. 160. Economic conditions were very good in Pakistan in Imran Khan's government. Since the regime change has taken place the present government has practically ruined the country's economy. Prices of everything is skyrocketing what to talk of only dollar rate in Pakistan, everything else like gold prices, silver prices and essential commodities prices have gone out of reach of common person.
Illegal transfer of dollar to other countries is also reported and government is unable to stop the dollar smuggling. Due to shortage of liquid currency in the market and with the banks several containers are stuck up on the ports because the importers are unable to pay them in dollars. It had a very negative effect on the country's economy and has shattered the confidence of importers, traders and businessmen all over the world.
When you check the dollar price in Pakistan by using the currency converter 1 USD to PKR then you will be shocked to see the fluctuation and increase in rates. As mentioned before the actual rates of dollar in Pakistan was around Rs. 160 but then a sudden flight of the price took it as high as Rs. 250 and dollar traded at this high rate in the open market. It was also reported that dollar even traded up to Rs. 260 in the black market and some people who were in dire need of the currency bought it even on higher rates than this.
Dollar rates in Pakistan have increased significantly these days after the regime change. The country's economy is in pathetic condition and due to the increasing dollar rates everything is getting expensive.
How to Buy/Sell Dollars in Pakistan
If you have some foreign currency in the shape of dollars and want to sell it or you require some dollars due to foreign visit or as an importers or you have to pay someone outside the country in Dollars then keep in mind the following points:
You have to be very careful in buying or selling dollars in Pakistan, be extra vigilant and never go alone in the market with cash in your hands that can easily snatched. Take full security measures, you can even get help of some reliable money changer. If you are interested to convert huge amount then they may send their own security persons for safety.
Whatever is your requirement you have to check the dollar rate in Pakistan and in your city to get the latest price. This is because due to large and rapid fluctuations in the currency rates you can lose or save lot of money. Keep an eye on the country's economic indicators also as they will define future of currency rates in Pakistan from which you can get benefit.
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