Currency Fluctuations Observed in Pakistan’s Forex Market

Karachi, Pakistan's foreign exchange market has experienced noticeable fluctuations in major currency values over recent days, as reported by the Exchange Companies Association of Pakistan.

According to Exchange Companies Association of Pakistan, the buying and selling rates of key currencies like the USD, EURO, GBP, JPY, AED, and SR have shown variations on 3rd and 4th April 2024. For instance, the US dollar (USD) buying rate decreased slightly from 277.39 to 277.16, while its selling rate adjusted from 279.98 to 279.77. Similarly, the Euro saw an increase in its buying and selling rates from 297.11 and 299.94 to 299.09 and 301.84, respectively. The British Pound (GBP) also increased in value, moving from a buying rate of 347.04 to 349.31 and a selling rate of 350.32 to 352.44.

The Japanese Yen (JPY), United Arab Emirates Dirham (AED), and Saudi Riyal (SR) exhibited minor adjustments in their exchange rates. The interbank rate for the US dollar remained stable at around 277.92 to 278.13, indicating a relative steadiness in the interbank market compared to the retail currency exchange.

These currency movements reflect the dynamic nature of Pakistan's forex market, influenced by various domestic and international economic factors. The data underlines the ongoing volatility and the need for investors and policymakers to closely monitor these trends.

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