Consumers typically come into contact with currency exchange when they travel. They go to a bank or currency exchange bureau to convert one currency (mostly, their "home currency") into another (i.e. the currency of the country they intend to travel to) so they can pay for goods and services in the foreign country. Consumers may also purchase goods in a foreign country or via the Internet with their credit card, in which case they will find that the amount they paid in the foreign currency will have been converted to their home currency on their credit card statement. Although each such currency exchange is a relatively small transaction, the aggregate of all such transactions is significant.

Businessmen typically have to convert currencies when they conduct business outside their home country. For example, if they export goods to another country and receive payment in the currency of that foreign country, then the payment must often be converted back to the home currency. Similarly, if they have to import goods or services, then businesses will often have to pay in a foreign currency, requiring them to first convert their home currency into the foreign currency. Large companies convert huge amounts of currency each year. The timing of when they convert can have a large affect on their balance sheet and "bottom line.

Investors and speculators also trade currencies directly in order to benefit from movements in the currency exchange markets. Interestingly, investors and speculators can profit equally from currencies becoming stronger (by taking a long position) or from currencies becoming weaker (by taking a short position). Speculators are often day traders, trying to take advantage of market movements in very short time periods; buying a currency and then selling it again may happen within hours or even minutes. 

Commercial and Investment Banks trade currencies as a service for their commercial banking, deposit and lending customers. These institutions also generally participate in the currency market for hedging and proprietary trading purposes.

Governments and Central Bank trade currencies to improve trading conditions or to intervene in an attempt to adjust economic or financial imbalances. Although they do not trade for speculative reasons --- they are a non-profit organization --- they often tend to be profitable, since they generally trade on a long-term basis.

The currency exchange market determines currency exchange rates. A currency exchange rate is always quoted for a currency pair. For example, PKR/USD refers to the two currencies Pak Rupee and U.S. Dollar. The first is referred to as the base currency, while the second as the quote currency. More generally, if buying, an exchange rate specifies how much you have to pay in the quote currency to obtain one unit of the base currency, and if selling, the exchange rate specifies how much you get in the quote currency when selling one unit of the base currency. A currency exchange rate is typically given as a pair consisting of a bid price and an ask price. The ask price applies when buying a currency pair and represents what has to be paid in the quote currency to obtain one unit of the base currency. The bid price applies when selling and represents what will be obtained in the quote currency when selling one unit of the base currency. The bid price is always lower than the ask price.

No, the rate in the foreign exchange market keeps on changing through out the day and never remains the same. 

It is so because the money market through out the world is volatile in nature and depends on the market forces of demand and supply. These are the basic forces to determine the exchange rates of the currencies as well and depend upon a number of factors and thus the rates keep on changing a number of times through out the day. The currency exchange market is a true 24-hour market. 

All the major and minor world currencies are available with us at the best prices along with best marketing services for our valued customers. KKI is known for offering the best competitive rates in the market for over a decade now. You will always find best rates of all currencies with us. You will be issued a formal receipt of every transaction that you will do with us either buying or selling of any currency. KKI has earned enviable reputation and trust of the customers in the years of its operations and thus the genuineness and authencity of the currency notes traded is always guaranteed. 

You can visit any of our branches operating all over Pakistan anytime round the clock from 9/30 AM till 6/30 PM daily except Sundays. You can personally come on our outlets and trade the currencies of your choice where our marketing officers will always be looking forward to serve you at their best. 

You can get the list and details of our outlets by just Clicking Here