Dollar Price In Pakistan Today In Open Market
Introduction
The dollar price in Pakistan is one of the most talked-about topics in the country. Every day, people want to know the latest dollar price in the open market. The dollar is the most traded currency in the world, and its value against other currencies is closely watched by investors around the globe. In this article, we will discuss the current dollar price in Pakistan and its impact on the economy.
The Current Dollar Price in Pakistan
As of today, the dollar price in Pakistan in the open market is Rs. 168.5. The dollar has been fluctuating in value against the Pakistani rupee for the past few years. In 2018, the dollar was worth Rs. 110. However, due to various economic factors, the dollar has been steadily increasing in value against the Pakistani rupee.
Factors Affecting the Dollar Price in Pakistan
There are several factors that affect the dollar price in Pakistan. One of the most significant factors is the supply and demand of the dollar in the open market. When the demand for the dollar is high, its price increases, and when the demand is low, its price decreases.
Other factors that affect the dollar price include the country's economic situation, political stability, and inflation rates. For example, when the country's inflation rate is high, the value of the rupee decreases, and the dollar becomes more expensive.
Impact of Dollar Price on the Economy
The dollar price has a significant impact on the Pakistani economy. The value of the Pakistani rupee is closely linked to the dollar price. When the dollar price increases, the cost of importing goods from other countries also increases. This leads to inflation and a rise in the cost of living.
Moreover, the dollar price affects the country's foreign reserves. As Pakistan imports more goods than it exports, it needs to pay for these imports in dollars. When the dollar becomes more expensive, the country's foreign reserves decrease as it needs to spend more dollars to pay for imports.
Conclusion
The dollar price in Pakistan is a vital economic indicator that affects the country's economy and the cost of living. The current dollar price in Pakistan is Rs. 168.5. Several factors affect the dollar price, including the country's economic situation, political stability, and inflation rates. The dollar price's impact on the economy is significant, and it is closely watched by investors and economists worldwide.