Dollar Rate in Pakistan – USD to PKR Open Market Updated Prices (2023)

Like many countries, Pakistan also trades in United States Dollar (USD) for international import and export transactions. For the past couple of years USD has been moving up and down more likely down due to several economic and political instabilities in Pakistan. Real estate sector also depends American Dollar because of international investment affairs. Nexthome.pk analyzes the Dollar Rate in Pakistan – USD to PKR Open Market Updated Prices (2023). Let’s get an overview with flashbacks of USD rate performance in the year of 2023.

Month       USD Rate Against PKR
January    226.53 PKR
February  270.25 PKR
March       278.90 PKR
April          283.48 PKR

This is the average USD rate and fluctuations are subject to every day of the relevant month.

What are Main Causes of USD Fluctuations in Pakistan?

The exchange rate between PKR and USD is subject to various economic, political, and social factors. Some of the main factors that can impact the exchange rate include:

Economic Health:

Economic policies and performance of the two countries – The relative strength of the economies of Pakistan and the United States often impacts the exchange rate. Factors such as inflation, interest rates, trade policies, and government spending can all have an effect on the exchange rate.

Political Stability:

Political instability in either country can cause fluctuations in the exchange rate, as investors may become more cautious and uncertain about the economic outlook.

International Events

International events such as natural disasters, terrorist attacks, and major policy decisions by central banks or governments can also impact exchange rates.

Demand For Goods and Services

The demand for goods and services between Pakistan and the US can also impact the exchange rate. If there is a high demand for Pakistani goods and services in the US, this can lead to an increase in the exchange rate, and vice versa.

In terms of historical trends, the PKR has historically been a relatively volatile currency, with frequent fluctuations against the USD. In recent years, the PKR has experienced significant depreciation against the USD due to a range of factors, including rising inflation, high levels of external debt, and political instability.

The PKR to USD exchange rate is subject to a range of economic, political, and social factors, and its fluctuations can be difficult to predict. It is important to keep a close eye on the economic policies and performance of both countries, as well as international events, in order to gain a better understanding of how the exchange rate may be affected.