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USD exchange rate: Rupee strengthens against dollar

The UAE Dirham (AED) stands at Rs75.20 for buying and Rs75.95 for selling.



According to the most recent data, the US dollar's (USD) purchasing and selling rates are Rs276.10 and Rs278.85, respectively.

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The purchasing and selling rates for the US dollar yesterday were Rs278.10 and Rs277.60, respectively.



The purchasing and selling rates for the British Pound (GBP) are Rs358.45 and Rs362.00, respectively.



At the moment, the Euro (EUR) is worth Rs298.10 to buy and Rs301.05 to sell. Comparably, the purchasing and selling rates for the Saudi Riyal (SAR) are Rs73.50 and Rs74.20, respectively.



Other noteworthy currencies are the Canadian dollar (CAD), which is priced at Rs197.00 for purchase and Rs202.00 for sale, and the Australian dollar (AUD), which is priced at Rs178.75 and Rs182.00. The buying price of the Swiss franc (CHF) is Rs316.00, while its selling price is Rs319.70.

The Gulf currencies also show notable values: the Bahraini Dinar (BHD) is at Rs730.20 and Rs737.50, the Kuwaiti Dinar (KWD) is at Rs896.35 for purchasing and Rs905.30 for selling, and the Omani Rial (OMR) is at Rs716.10 for buying and Rs723.25 for selling.

In contrast, the UAE Dirham (AED) is worth Rs75.20 when purchased and Rs75.95 when sold.



The fair worth of a rupee is less than Rs240.





Ishaq Dar, the deputy prime minister of Pakistan, had earlier said on Tuesday that the rupee should not be worth more than Rs240 in relation to the dollar based on economic factors.

He said that the flexible exchange rate system hurts the public and the economy.



Speaking at the Pakistan China Institute seminar, Dar said he was hopeful that the next meeting of the monetary policy committee would see a large interest rate cut, which he attributed to a sharp decline in inflation.



The rupee should ideally be between Rs235 and Rs240 per dollar, according to the Real Effective Exchange Rate (REER) for September, he said, stressing that the REER represents the currency's inflation-adjusted value in relation to other
 
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