The value of the Pakistani rupee fluctuated against major foreign currencies on Tuesday.
The rupee saw a slight decline against the US dollar, with the buying price reaching Rs 279.00 and the selling price at Rs 280.70. The British pound experienced a modest rise, trading at Rs 366.45 for buying and Rs 370.10 for selling.
Against the Euro, the rupee made slight gains, with the Euro bought at Rs 307.70 and sold at Rs 310.75. In the Gulf region, the Saudi riyal traded at Rs 73.80 for buying and Rs 74.53 for selling, while the UAE dirham was bought at Rs 75.55 and sold at Rs 76.30.
Other notable rates included the Australian dollar at Rs 186.50 for buying and Rs 189.50 for selling, and the Canadian dollar at Rs 203.00 for buying and Rs 207.50 for selling.
Premium currencies remained high, with the Omani rial bought at Rs 719.45 and sold at Rs 726.60, the Bahraini dinar at Rs 733.60 for buying and Rs 740.90 for selling, and the Kuwaiti dinar at Rs 900.50 for buying and Rs 909.50 for selling.
The fluctuations in the exchange rate are influenced by several key factors, including exports, imports, the stock price index, foreign reserves excluding gold, industrial production, the wholesale price index, and money supply.
Yesterday, the indicative buying rate for the US dollar was Rs 278.50, with the selling price at Rs 280.70. The British pound was bought at Rs 365.20 and sold at Rs 368.85, while the Euro was listed at Rs 308.70 for buying and Rs 311.80 for selling. The Saudi riyal was priced at Rs 73.85 for buying and Rs 74.58 for selling, and the UAE dirham at Rs 75.55 for buying and Rs 76.30 for selling.
The Open Market Dollar rate in Pakistan typically reflects the unrestricted flow of trade, allowing equal opportunities for demand and supply without barriers.
