By Our Correspondent
Copyright pakobserver
KARACHI – Pakistani rupee have recorded slight changes against various foreign currencies including Euro, Saudi Riyal and UK Pound in open market on Thursday.
On September 18, US Dollar’s buying rate stood at Rs282.35 while selling rate hovered at Rs282.75 according to forex.pk
Euro’s (EUR) buying rate stood at Rs332.6 and the selling rate at Rs336.6 while UK Pound buying rates settled at Rs384.5 and selling Rs389.5.
Several currencies, including the Australian Dollar (AUD), Canadian Dollar (CAD), Chinese Yuan (CNY), Danish Krone (DKK), Japanese Yen (JPY), Kuwaiti Dinar (KWD), Malaysian Ringgit (MYR), New Zealand Dollar (NZD), and Swiss Franc (CHF), showed no change in their rates compared to the previous update.
Currency Exchange Rates Today
Currency exchange rates determine the value of one currency in relation to another. These rates are essential for international trade, travel, and investment. When exchange rates fluctuate, they affect the prices of goods and services between countries.
For example, a strong domestic currency can make imports cheaper but exports more expensive, influencing trade balances.
Exchange rates also impact inflation, interest rates, and economic growth. Governments and central banks monitor and sometimes intervene in exchange markets to stabilize their economies. Investors and businesses closely follow exchange trends to make informed financial decisions.
Overall, currency exchange rates play a vital role in shaping global economic dynamics and national financial health.
