The UAE Dirham saw a marginal increase in the Pakistani open market, reaching Rs76.6 for buying and Rs77.45 for selling on Saturday.
This reflects a 10-paisa uptick from the previous day’s closing rate of Rs76.45, as reported by forex.pk.
For the substantial Pakistani community in the UAE, constituting 16.73 percent of the Gulf country’s total population, the daily fluctuations in the exchange rate hold considerable importance.
The Dirham, with the currency code AED and divided into 100 fils, holds significant sway in the lives of these expatriates, whose earnings are in the official UAE currency.
In terms of the exchange rate, the current value of Rs76.6 for 1 UAE Dirham implies 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 relying on these conversions for various financial transactions.
With over 1.71 million Pakistani expatriates, Pakistanis rank as the second-largest national group in the UAE after Indians. Given the importance of their financial connections with their home country, staying informed about the daily exchange rate is of utmost significance.
