USD to PKR 2023
Dollar Rate in Pakistan 2023 was PKR 281. In 2023, the USD to PKR experienced significant fluctuations due to various economic and political factors. The exchange rate of the dollar is a crucial indicator of the economic health of a country, and for Pakistan, it has been a year of notable changes.
Dollar Rate in Pakistan 2023 History
For 2023, the exchange rates between the USD to PKR experienced notable fluctuations.
- Best highest exchange rate of 2023: 308.0983
- Average exchange rate of 2023: 279.5312
- Lowest exchange rate of 2023: 226.5312
Overview of the Dollar Rate in Pakistan 2023
At the beginning of 2023, the dollar rate in Pakistan was relatively stable, hovering around PKR 226 to 268 per US dollar. However, as the year progressed, multiple factors influenced the dollar rate in Pakistan, leading to both appreciations and depreciations.
Monthly Breakdown of the Dollar Rate in Pakistan 2023
January to March: The dollar rate in Pakistan remained relatively stable, with minor fluctuations between PKR 226 and 283.
April to June: Mid-year saw a slight depreciation, with the dollar rate in Pakistan rising to around PKR 283 to 286 due to increasing political unrest.
July to September: The dollar rate in Pakistan saw a peak, reaching up to PKR 289, driven by high inflation and a widening trade deficit.
October to December: The end of the year brought some stabilization efforts by the government, bringing the dollar rate in Pakistan back down to around PKR 279.
Impact on the Economy
The fluctuations in the dollar rate in Pakistan in 2023 had widespread impacts on the economy. The rising dollar rate in Pakistan led to increased costs of imports, thereby contributing to higher inflation. Conversely, for exporters, a higher dollar rate in Pakistan meant better revenue in terms of local currency, which provided some relief to the trade balance.