Us Dollar Vs Pakistani Rupee In Open Market
The US Dollar and Pakistani Rupee are two of the most widely used currencies in the world. The US Dollar is used as the official currency in the United States, while the Pakistani Rupee is used in Pakistan. In this article, we will be discussing the current exchange rate of the US Dollar and Pakistani Rupee in the open market.
What is the Open Market?
The open market is a free market where goods and services are sold without any government intervention. In the case of currency exchange, the open market refers to the market where currencies are bought and sold freely without any government intervention.
Exchange Rate of US Dollar and Pakistani Rupee in Open Market
The exchange rate of the US Dollar and Pakistani Rupee in the open market fluctuates frequently due to various economic factors such as inflation, political instability, and global economic conditions. As of August 2021, 1 US Dollar is equivalent to approximately 163 Pakistani Rupees.
Factors Affecting the Exchange Rate
The exchange rate of the US Dollar and Pakistani Rupee is affected by various economic and political factors such as inflation, interest rates, political stability, global economic conditions, and trade policies. For instance, if the inflation rate in Pakistan is high, the value of the Pakistani Rupee may decrease relative to the US Dollar, and vice versa.
Impact of Exchange Rate on the Economy
The exchange rate of the US Dollar and Pakistani Rupee has a significant impact on the economy of Pakistan. A stronger US Dollar relative to the Pakistani Rupee makes imports more expensive, which can lead to higher prices of goods and services in Pakistan. On the other hand, a weaker US Dollar relative to the Pakistani Rupee makes exports more competitive, which can boost the economy of Pakistan.
Conclusion
In conclusion, the exchange rate of the US Dollar and Pakistani Rupee in the open market is affected by various economic and political factors. It is crucial for businesses and individuals who deal with international transactions to stay updated on the current exchange rate to make informed decisions.