Monday, November 4, 2024

Check: Currency Exchange Rate in Pakistan 16th August 2024

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According to the Forex Association the latest currency exchange rate in Pakistan on 16th August 2024, the US Dollar: is PKR 279.3, the Euro: is PKR 303.7, the British Pound: is PKR 355.5, the Saudi Riyal: is PKR 73.85, the UAE Dirham: PKR 75.85, Australian Dollar: PKR 184.25. Their selling and buying rates are mentioned in the chart below.

Currency Exchange Rate in Pakistan

Here are the buying and selling rates for some other popular currencies on the same day:

CurrencyBuyingSelling
  US DollarUSD 279.3 280.6
  EuroEUR 303.7  306.05
  UK Pound SterlingGBP 355.5   357.5
 U.A.E DirhamAED  75.85   76.55
 Saudi RiyalSAR  73.9 74.60
 Australian DollarAUD  184.25 186.15
 Bahrain DinarBHD   739.5  745
 Canadian DollarCAD  203  205
 China YuanCNY 38.29 38.69
 Indian RupeeIND 3.34 3.44
 Japanese YenJPY 1.9  1.98
 Kuwaiti DinarKWD 907.71  916.71
 New Zealand DollarNZD169.34171.34
 Omani RiyalOMR  722.87  730.89
 Qatari RiyalQAR76.1477.14

Important Note:

  • These rates are just an estimate and can change quickly.
  • The exact amount you’ll get might be different depending on where you exchange money.

For More: DailyPakPress Updates on Gold, Currencies, and Taxes

What is Currency Exchange?

Currency Exchange in simple words is trading one type of money for another. For example, you might trade Pakistani rupees for US dollars when you’re traveling.

How Does it Work?

The exchange rate tells us how much for one currency you will get. This change in currency rate is based on time and mainly depends on the country’s economic position. So, the Big companies and banks decide the rates of currency.

when you go for a money exchange, you mainly visit banks and the exchange markets or you use machines at the airport. It is important to compare the rates of currency before setting a deal.

Where to Exchange Money in Pakistan

If you’re in Pakistan, you can exchange money at these places:

  • Banks: These are usually the safest options.
  • Money exchange shops: You can find these in many cities.
  • Airport exchange counters: Convenient but often have higher fees.

Remember: Exchange rates increase or decrease fastly so it is important to compare the prices before exchanging it.

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