The forex market is the largest interbank market in the world where currencies are traded. All the currencies of the world are the part of the forex market where per day; average traded values are equal to trillions of dollars.
Foreign Exchange Rate
A foreign exchange rate is basically the comparison between the values of the two currencies. So, the forex rates in Pakistan are basically the comparison of the value of Pakistani currency against different currencies of the world.
The Pakistan Open Market forex rates for different currencies on 8 January 2019 are as follows:
OPEN MARKET FOREX RATES
|Currency||Buying in PKR||Selling in PKR|
|Hong Kong Dollar||17.75||18|
|UK Pound Sterling||176||177|
INTER BANK RATES
|Currency||Bank Buying TT Clean||Bank Selling TT & OD|
|Hong Kong Dollar||17.68||17.75|
|UK Pound Sterling||176.79||177.43|
The US Dollar has been flying up for the last three months or so. There is a slight difference between the rates of different currencies of yesterday and today.
Kuwaiti Dinar is on top with the buying and selling rates of 459.5 and 462 as the currency of Kuwait is the strongest in the world. The Bahrain Dinar is the second strongest currency in the world with the buying and selling rates of 370.5 and 372.5 respectively. Third strongest is the Omani Riyal. Fourth is UK Pound Sterling. Then comes Euro and Swiss Franc and then there is US dollar with the buying and selling rates of 138.85 and 139.35 respectively.