Currency

Introduction

Currency refers to any form of money that is used as a medium of exchange for goods and services. It can take the form of physical currency, such as paper money or coins, or digital currency, such as electronic money or cryptocurrencies like Bitcoin.

Currency is used to facilitate transactions and economic activity, and it serves as a unit of account for measuring the value of goods and services. Currency is typically issued and regulated by governments or central banks, which may set monetary policies to manage inflation, interest rates, and the overall supply of money in circulation.

In most countries, the national currency is legal tender, meaning that it is accepted as a valid form of payment for all debts and obligations. However, in some cases, other currencies may also be accepted as a form of payment, particularly in international trade or in areas where multiple currencies are in use.

Inter Bank Rates

The interbank rate, also known as the interbank exchange rate or simply the interbank rate, refers to the interest rate at which banks lend to and borrow from one another in the financial markets. This rate serves as a benchmark for a wide range of financial transactions and influences the overall cost of borrowing in the economy.

Inter Bank Rates

As per Open Market as on Wednesday. Dec 14 2023 , 9:30 PST (GMT +5)

Sr.	Countries	Symbol	Currency	Bank Buying (TT Clean)	Bank Selling (TT & OD)
1	Australian	AUD	Dollar	185.32	185.82
2	Canadian	CAD	Dollar	208.05	208.55
3	China	CNY	Yuan	39.38	39.48
4	Danish	DKK	Krone	40.92	41.02
5	Euro	EUR	Euro	305.25	305.85
6	Hong Kong	HKD	Dollar	36.25	36.35
7	Japanese	JPY	Yen	1.91	1.94
8	Saudi	SAR	Riyal	75.46	75.61
9	Singapore	SGD	Dollar	210.46	210.96
10	Swedish	SEK	Korona	27.02	27.12
11	Swiss	CHF	Franc	323.29	323.89
12	Thai	THB	Bhat	7.88	7.92
13	U.A.E	AED	Dirham	77.08	77.23
14	UK Pound	GBP	Sterling	354.40	355.05
15	US	USD	Dollar	283.11	283.61

Inter Bank Rates on AsaanTax.pk:

1. Definition and Explanation:
   • The section would likely provide an explanation of what interbank rates are. This could include details about how these rates are determined, their significance in financial markets, and how they impact various financial transactions.
2. Live Interbank Rates:
   • The website may display live or regularly updated interbank rates for different currencies. Users could explore rates for major currency pairs and get real-time data reflecting the rates at which banks trade with each other.
3. Comparison with Other Rates:
   • There might be a comparison with other types of rates, such as open market rates or official central bank rates. This helps users understand the variations in rates across different markets.
4. Historical Data:
   • Some websites offer historical data, allowing users to track how interbank rates have changed over time. This can be valuable for users interested in market trends and analysis.
5. Currency Converter Tool:
   • To enhance user experience, there might be a currency converter tool allowing users to convert between different currencies using the latest interbank rates.
6. Educational Content:
   • The section might include educational content to help users understand the complexities of interbank rates, including factors influencing their fluctuations.
7. Market Insights and Analysis:
   • Some websites provide market insights, analysis, or commentary on factors affecting interbank rates. This can be beneficial for users looking for a deeper understanding of the financial landscape.
8. Updates and Notifications:
   • Users might have the option to subscribe to updates or notifications to receive alerts when there are significant changes in interbank rates.

Pak Open Market Rate

Welcome to AsaanTax.pk, your premier destination for real-time open market currency rates in Pakistan. Stay informed with the latest updates on currency exchange rates, tailored specifically for the Pakistani open market. Discover the disparities between open market rates and interbank rates, with a focus on the ever-fluctuating dollar rate.

Currency Rate in Pakistan Rupee

As per Open Market as on Wednesday. Dec 14 2023, 09:35 PST (GMT+5)

Sr.	Countries	Symbol	Currency	Buying	Selling
1	Australian	AUD	Dollar	187.20	189.00
2	Bahrain	BHD	Dinar	755.28	763.28
3	Canadian	CAD	Dollar	209.00	211.00
4	China	CNY	Yuan	39.68	40.08
5	Danish	DKK	Krone	41.08	41.48
6	Euro	EUR	Euro	306.00	309.00
7	Hong Kong	HKD	Dollar	36.35	36.70
8	Indian	INR	Rupee	3.41	3.52
9	Japanese	JPY	Yen	1.39	1.45
10	Kuwaiti	KWD	Dinar	920.97	929.97
11	Malaysian	MYR	Ringgit	60.86	61.46
12	New Zealand	NZD	Dollar	173.88	175.88
13	Norwegians	NOK	Krone	26.02	26.32
14	Omani	OMR	Riyal	737.7	745.7
15	Qatari	QAR	Riyal	77.98	78.68
16	Saudi	SAR	Riyal	76.10	76.90
17	Singapore	SGD	Dollar	211.00	213.00
18	Swedish	SEK	Korona	27.11	27.41
19	Swiss	CHF	Franc	324.21	326.71
20	Thai	THB	Bhat	7.94	8.09
21	U.A.E	AED	Dirham	77.50	78.30
22	UK Pound	GBP	Sterling	358.50	362.00
23	US	USD	Dollar	284.3	287.00

1. Up-to-Date Currency Rates:

Experience the precision of our regularly updated open market currency rates. We strive to provide accurate information for a variety of currencies, including USD to PKR, EURO to PKR, SAR to PKR, and more.

2. Comparison with Interbank Rates:

Understand the variations between open market rates and interbank rates, particularly the dynamics of the dollar rate. AsaanTax.pk ensures you have the latest insights into these differences.

3. Competitive Exchange Rates:

In contrast to traditional banks, which often impose higher exchange rates, AsaanTax.pk offers competitive rates to enhance your currency exchange experience.

4. Timely Updates – USD to PKR:

Benefit from our timely updates, especially focusing on USD to PKR rates. Our commitment is to provide our visitors with the most recent and relevant information for informed decision-making.

5. Comprehensive Currency Information:

Explore a wealth of information, including historical open market currency rates, graphs, and charts. AsaanTax.pk is your go-to resource for in-depth analysis and understanding of the Pakistan Currency Open Market.

Why AsaanTax.pk?

• Accuracy: Our currency rates are diligently updated for accuracy.
• User-Friendly Interface: Enjoy a seamless and user-friendly experience while navigating through open market rates, graphs, and charts.
• Transparent Transactions: AsaanTax.pk empowers you with transparency in currency exchange, ensuring you make well-informed decisions.

Explore Pakistan Currency Open Market

Navigate through the historical trends, analyze market movements, and make informed decisions with the extensive resources available at AsaanTax.pk.

Trust AsaanTax.pk, your gateway to a comprehensive and reliable source for open market currency rates in Pakistan.

Currency Situation in Pakistan Vs Other Countries

At that time, Pakistan was facing a number of economic challenges, including high inflation, a large trade deficit, and a falling currency. The Pakistani rupee had depreciated significantly against the US dollar, with the exchange rate reaching record lows in 2020.

To address these challenges, the government of Pakistan had taken a number of measures, including seeking financial assistance from the International Monetary Fund (IMF), implementing economic reforms, and encouraging exports to reduce the trade deficit. The State Bank of Pakistan had also raised interest rates to help control inflation and stabilize the currency.

It is worth noting that economic conditions can change rapidly, and it is important to consult up-to-date sources for information on the current situation in Pakistan.

As an AI language model, I do not have real-time access to current events. However, I can provide some general information about the currency situation in different countries as of my knowledge cutoff date of September 2021.

The currency situation in each country can be influenced by a wide range of factors, including economic growth, inflation, trade balances, political stability, and monetary policy. Here are some brief summaries of the currency situation in a few countries:

• United States: The US dollar is the world’s most widely used currency and is considered a benchmark for other currencies. As of September 2021, the US dollar was generally strong, benefiting from the country’s relatively stable economic growth and low inflation.
• European Union: The euro is the common currency of the European Union, used by 19 of the 27 member countries. As of September 2021, the euro was generally stable, but concerns about economic growth and inflation in some member countries had led to some fluctuations.
• China: The Chinese yuan is the currency of the world’s second-largest economy. As of September 2021, the yuan had appreciated against the US dollar, partly due to China’s relatively strong economic performance and increased foreign investment.
• India: The Indian rupee had depreciated against the US dollar as of September 2021, partly due to the country’s high inflation and trade deficit.
• Japan: The Japanese yen had generally weakened against the US dollar as of September 2021, due to the country’s low interest rates and economic growth.

It is important to note that economic conditions can change rapidly, and it is important to consult up-to-date sources for information on the current currency situation in different countries.