KARACHI: December 23, 2022: US dollar rate in local currency market appreciated by 10 paisa to take its rates in interbank to Rs 225.60 in the mid day session but it reversed to its last day rate of Rs 225.50 at the closing of the day trade at 4.30 pm. In open market , US dollar trade at its last day rate of Rs 232.50.
Saudi Riyal rate in Pakistan’s currency market today is Rs 65.10 against the rupee. UAE Dirham rate today is Rs 68.50. In the first session UAE Dirham had closed at Rs 68.30.
Euro jumped up by another Rs 2 on Friday, the last working day of the week. It traded at Rs 258.50 today in the local market. Euro is appreciating massively for the last many working sessions. In recent two weeks , Euro had appreciated by around Rs 8.50.
Pound sterling is also fluctuating in value terms. Its value in local market today is Rs 294.50 . Japanese currency rate today is Rs 1.18525 . Australian dollar (AUD) rate is 161.50 and Canadian dollar (CAD) rate today is Rs 177.50.
Although currency exchange of Pakistan is releasing daily rates of major currencies but in fact most of the currencies were non-existent in Pakistan’s currency market. However, the black marketers’ currency business is thriving in Pakistan. The black marketers are selling US dollar at Rs 259 to 260. The official rate of US dollar is much lower in the interbank and even in the open market.
Black marketing of US dollar and other major currencies shows how powerful currency marke3t is in Pakistan.