The US Dollar (USD) to Pakistani Rupee (PKR) exchange rate is of significant interest to a wide range of individuals and entities, including businesses involved in international trade, investors, travelers, and Pakistani citizens receiving remittances from abroad.
As of October 6, 2024, the USD to PKR exchange rate is hovering around 278.64. However, it’s crucial to remember that this rate is subject to constant fluctuations throughout the day due to various market dynamics.
Chart: USD To PKR Rate Today 6 October 2024
| Date | Rate (USD to PKR) |
|---|---|
| 6 October 2024 | 278.64Â |
Disclaimer: Exchange rates are inherently volatile. The information provided here is an approximation based on current market conditions as of October 6, 2024. For the most up-to-date and precise rates, it is recommended to consult a financial institution or a reliable online currency converter.
Factors Influencing the USD to PKR Rate
Several factors contribute to the fluctuations in the USD to PKR exchange rate:
- Economic conditions in the US and Pakistan: The relative strength of the US economy compared to Pakistan’s plays a major role. Factors such as interest rates, inflation, and economic growth in both countries influence the exchange rate.
- Political stability in Pakistan: Political uncertainty and instability in Pakistan can weaken the PKR against the USD.
- Current account deficit: Pakistan’s current account deficit, which reflects the difference between its imports and exports, can put downward pressure on the PKR.
- Foreign exchange reserves: The level of foreign exchange reserves held by the State Bank of Pakistan can impact the PKR’s value.
- Remittances from overseas Pakistanis: A significant inflow of remittances can strengthen the PKR.
- Global economic conditions: Events like global economic slowdowns or major geopolitical developments can affect the USD/PKR exchange rate.
- Market sentiment and speculation: Investor confidence and market speculation can also contribute to short-term exchange rate movements.
Staying Updated on USD to PKR Rates
To stay informed about the USD to PKR exchange rate, consider these resources:
- Financial institutions: Banks and exchange houses provide real-time exchange rate information.
- Online currency converters: Numerous websites and apps offer currency conversion tools with live rates.
- Financial news websites: Reputable financial news sources often provide current exchange rates and market analysis.
- State Bank of Pakistan website: The official website of the State Bank of Pakistan provides daily exchange rate information.
Other Popular Currency Rates in Pakistan
In addition to the USD, here are some other major currency exchange rates in Pakistan as of October 6, 2024 (approximate values):
| Currency | Rate (1 Unit to PKR) |
|---|---|
| Euro (EUR) | 327 |
| British Pound (GBP) | 374 |
| UAE Dirham (AED) | 75.68 |
| Saudi Riyal (SAR) | 74.07 |
| Kuwaiti Dinar (KWD) | 985 |
| Japanese Yen (JPY) | 2.05 |
| Chinese Yuan (CNY) | 41.50 |
| Indian Rupee (INR) | 3.50 |
| Canadian Dollar (CAD) | 223 |
| Australian Dollar (AUD) | 196 |
Conclusion
The USD to PKR exchange rate is a crucial economic indicator for individuals and businesses in Pakistan. By understanding the factors that influence this rate and staying updated on its movements, individuals and businesses can make informed financial decisions.
