Pakistani Expatriates Benefit from UAE Dirham Appreciation

The United Arab Emirates (UAE) Dirham buying rate in the open market of Pakistan is currently at Rs75, with a selling rate of Rs75.75, as reported by forex.pk. This marks a gain of five paisas for the Dirham against the Pakistani rupee compared to the previous trading day. The significant presence of over 1.71 million Pakistani expatriates in the UAE, constituting 16.73% of the Gulf country's total population, underscores the importance of monitoring the exchange rate for them.

The UAE Dirham, denoted by the currency code AED and subdivided into 100 fils, holds value for Pakistanis earning in Dirhams. As of April 27, 2024, the exchange rate stands at Rs75 in the open market. For instance, 500 Dirhams would amount to Rs37,500 in Pakistani currency, while 1,000 Dirhams would be equivalent to Rs75,000.

Individuals carrying UAE Dirhams in Pakistan can conveniently convert their currency by visiting banks or exchange company branches. This accessibility ensures a seamless transition from AED to PKR for those needing to engage in financial transactions within Pakistan.