USD to PKR Rates on 16th August: Significant Depreciation Recorded
The Dilect: The Pakistani rupee has been declining against the US Dollar since the transition to an interim government began. The rupee’s decline has had significant repercussions on fuel and gold prices as well.
According to statistical data, the Pakistani Rupee depreciated by Rs. 3.42 against the US Dollar on the 16th of August, indicating a 1.16% decline. As a result of this surge in the dollar’s value, it stabilized at Rs. 294.93 in the interbank market on this day. Against the dollar, the rupee fell to Rs. 291.51 for the first time since May 11th.
Fluctuations in Open Market Rates
USD to PKR
Rates fluctuated on the open market as well, as the Pakistani Rupee decreased by 2.50 rupees against the US Dollar, ultimately settling at Rs. 299.50 for buyers and Rs. 302.50 for sellers.
Changing economic dynamics continue to affect the value of the Pakistani Rupee against the US Dollar. Keep an eye on the exchange rate as it continues to influence various aspects of the economy. Refer to reputable sources if you want accurate and timely information on today’s USD to PKR rate.
Interbank closing #ExchangeRate for today https://t.co/IrYWbJWzwy#SBPExchangeRate pic.twitter.com/5ow2ZrPOyU
— SBP (@StateBank_Pak) August 16, 2023
