Exchange rates for Pakistan, November 23, 2024
In Pakistan, the UK Pound (GBP) exchange rate has seen a decline, with the buying rate standing at Rs. 349.36 and selling rate Rs. 354.76 in the open market. This indicates a reduction of Rs. 2.04 as compared to the previous closing rate of Rs. 351.40
The British pound sterling, popularly known as the pound (£), plays an important role not only in the UK economy but also for Pakistan, especially because of the Pakistani expatriate community living in the UK. is With more than 1.5 million Pakistanis living there, the exchange rate is crucial for repatriates.
For these migrants, fluctuations in the pound-rupee exchange rate have a direct impact on the financial support provided to their families. Along with changes in exchange rates, this affects the value of remittances, which in turn affects the amount received by loved ones in Pakistan. Despite recent declines, the pound remains a strong currency.
Since Pakistani expatriates closely track exchange rates, staying informed is key to ensuring that their funds are exchanged at the most favorable rates. A favorable and stable exchange rate contributes to the economic well-being of their families and strengthens the overall flow of remittances into Pakistan’s economy.
