1 Dollar Rate In Pakistan Today Open Market
As of today, the exchange rate of the US dollar against the Pakistani rupee is 1 USD equals 168.50 PKR in the open market. The exchange rate is subject to change based on various economic and political factors.
Factors Affecting the Exchange Rate
The exchange rate of any currency is determined by the supply and demand in the market. Some of the factors that affect the exchange rate of the US dollar against the Pakistani rupee are:
- Political stability
- Economic growth
- Inflation rate
- Interest rates
- Trade balance
Political instability and economic uncertainty can lead to a decrease in demand for the Pakistani rupee, resulting in a decrease in its value against the US dollar. Similarly, high inflation rates and low interest rates can also lead to a decrease in the value of the Pakistani rupee.
Impact on the Economy
The exchange rate of the US dollar against the Pakistani rupee has a significant impact on the economy of Pakistan. A weaker Pakistani rupee means that imported goods become more expensive, leading to a rise in inflation. This can be especially problematic for low-income households who are already struggling to make ends meet.
On the other hand, a weaker Pakistani rupee can also make Pakistani exports more competitive in the international market, leading to an increase in export revenues and a boost to the economy.
Recent Trends
In recent years, the exchange rate of the US dollar against the Pakistani rupee has been volatile. In 2018, the exchange rate reached an all-time high of 139.05 PKR for 1 USD. However, in 2019, the exchange rate started to stabilize, with the rate hovering around 155 PKR for most of the year.
In 2020, the COVID-19 pandemic had a significant impact on the global economy, leading to a decrease in demand for the Pakistani rupee. As a result, the exchange rate of the US dollar against the Pakistani rupee reached an all-time high of 168.50 PKR in August 2020.
Conclusion
The exchange rate of the US dollar against the Pakistani rupee is an important economic indicator that affects the lives of millions of Pakistanis. While a weaker Pakistani rupee can lead to higher inflation, it can also make Pakistani exports more competitive in the international market. It is important for the government to take measures to maintain a stable exchange rate to ensure the well-being of the Pakistani economy and its citizens.
