As of December 16, 2024, the exchange rate between the Iranian Rial (IRR) and the Pakistani Rupee (PKR) stands at approximately 1 IRR = 0.0065914 PKR.
Recent Trends in the IRR to PKR Exchange Rate
Over the past week, the IRR to PKR exchange rate has exhibited minor fluctuations, maintaining a relatively stable range.
Date | Exchange Rate (1 IRR to PKR) |
---|---|
December 15 | 0.0065694 |
December 14 | 0.0065948 |
December 13 | 0.0066035 |
December 12 | 0.0066127 |
December 11 | 0.0066014 |
Factors Influencing the Exchange Rate
Several key factors influence the exchange rate between the Iranian Rial and the Pakistani Rupee:
- Economic Indicators: Metrics such as GDP growth, inflation rates, and interest rates in both Iran and Pakistan play a significant role in determining the exchange rate. For instance, higher inflation in Iran can lead to a depreciation of the Rial against the Rupee.
- Political Stability: Political events and stability within each country can impact investor confidence, thereby affecting currency valuations. Political unrest or uncertainty may lead to currency depreciation.
- Oil Export Revenues: For Iran, oil export income is a crucial factor. Fluctuations in oil prices can directly affect the country’s revenue, influencing the value of the Rial.
- Sanctions and International Relations: International sanctions, particularly those affecting Iran, can restrict economic activities and access to foreign exchange, leading to currency depreciation.
Understanding the Exchange Rate Mechanism
Exchange rates are determined by the foreign exchange market, where currencies are traded. The value of a currency in relation to another is influenced by supply and demand dynamics, which are affected by the factors mentioned above.
Practical Implications
For individuals and businesses engaged in trade or travel between Iran and Pakistan, staying informed about the exchange rate is crucial. Even minor fluctuations can impact the cost of goods, services, and investments.
Frequently Asked Questions (FAQs)
- How often does the IRR to PKR exchange rate change?
- Exchange rates can fluctuate multiple times within a single day due to ongoing economic activities, market sentiment, and geopolitical events.
- Where can I find the most current exchange rates?
- Reliable financial websites and currency converters, such as XE.com and Wise.com, provide up-to-date exchange rates.
- What is the impact of inflation on the exchange rate?
- Higher inflation in a country typically leads to currency depreciation, as the purchasing power of the currency decreases relative to others.
- How do international sanctions affect the Iranian Rial?
- Sanctions can limit Iran’s access to international markets and foreign currencies, leading to reduced economic activity and depreciation of the Rial.
Conclusion
The exchange rate between the Iranian Rial and the Pakistani Rupee is subject to various economic, political, and social factors. Staying informed about these elements can help individuals and businesses make better financial decisions. Regularly consulting reliable financial sources is recommended to keep abreast of any changes in the exchange rate.