You may see Pakistan’s most recent interbank and open market currency exchange rates on the IlmiNews. The most recent exchange rates for all major currencies, including the US dollar rate in Pakistan, are available on this portal.
Inter Bank Currency Exchange Rates in Pakistan:
Banks and other financial institutions transfer currencies with one another on the Interbank network. It is governed by the State Bank of Pakistan (SBP) and runs electronically. Interbank exchange rates are used for major transactions, like those involving enterprises, governments, and financial organizations, and are usually lower than the open market rate.
Open Market Currency Exchange Rates in Pakistan:
The informal sector where people and small enterprises exchange money is referred to as the “open market,” often called the “currency market” or “forex market.” It is physically present in places intended for that purpose, such as exchange bureaus, street markets, and money changers. The open market’s exchange rates are determined by variables such as supply and demand, the state of the economy, and geography.
