On Wednesday, according to the Forex Association of Pakistan (FAP), USD to PKR buying rate was Rs220.85 as per Pakistan’s Interbank’ and the USD/PKR selling rate for 1 Dollar was PKR 221.35.
While, in the ‘open market’, the US dollar was being traded between Rs224 to Rs226.
Dollar to PKR – US Dollar rate in Pakistan
| DATE | BUYING | SELLING |
|---|---|---|
| 19 Oct 22 | PKR 220.85 | PKR 221.35 |
Yesterday, the US Dollar closed at Rs219.71.
The PKR is getting a drubbing at the hands of the USD for the last six days in which the value of the American currency has appreciated by Rs2.71.
The experts believe that the US dollar is evaporating from the market and is being sold in the grey market at much higher rates. The increasing differential between the rates of dollar in the open market and interbank trading is indicative of this fact.
Currency Conversion as per Pakistan Open Market Rates
 US Dollar |
Pakistan Rupee  |
|
| 1.0000 USD | = | 226.0000 PKR |
| as on Wed, Oct 19 2022, | ||