The UAE Dirham experienced a slight surge in the open market of Pakistan, reaching Rs76.6 for buying and Rs77.45 for selling on Saturday.
This marks a 10-paisa increase from the previous day's closing rate of Rs76.45, according to data from forex.pk.
For the sizable Pakistani community in the UAE, constituting 16.73 percent of the Gulf country's total population, daily fluctuations in the exchange rate are a matter of keen interest.
The Dirham, denoted by the currency code AED and subdivided into 100 fils, plays a crucial role in the lives of these expatriates, whose earnings are in the official UAE currency.
Exchange rate
The current exchange rate of Rs76.6 for 1 UAE Dirham means that 500 Dirhams would be equivalent to Rs38,300 in Pakistani currency, and 1,000 Dirhams would amount to Rs76,600. This information is crucial for expats who rely on these conversions for various financial transactions.
With more than 1.71 million Pakistani expatriates, Pakistanis form the second-largest national group in the UAE after Indians. Given the significance of their financial ties with the homeland, understanding the daily exchange rate is paramount.
