Karachi, January 2, 2024 – Today, the State Bank of Pakistan (SBP) unveiled the foreign exchange rates for customers, providing a crucial reference point for cross-border transactions on January 2, 2024.
These rates, derived from the weighted averages of commercial banks, play a pivotal role in guiding international trade transactions and serve as a benchmark for businesses and individuals involved in global commerce.
The foreign exchange rates issued by the SBP are essential indicators that shape the dynamics of cross-border transactions. Beyond their primary function in currency conversion, these rates act as benchmarks for various commercial transactions conducted by businesses with international partners.
As of January 2, 2024, the buying and selling rates for various foreign currencies in Pakistani Rupees (PKR) are as follows:
• AED (United Arab Emirates Dirham):
• Buying: PKR 76.7638
• Selling: PKR 76.8816
• AUD (Australian Dollar):
• Buying: PKR 192.2868
• Selling: PKR 192.5969
• CAD (Canadian Dollar):
• Buying: PKR 212.5792
• Selling: PKR 212.9137
• CHF (Swiss Franc):
• Buying: PKR 333.5054
• Selling: PKR 334.0404
• CNY (Chinese Yuan):
• Buying: PKR 39.5559
• Selling: PKR 39.6111
• EUR (Euro):
• Buying: PKR 310.7029
• Selling: PKR 311.1944
• GBP (British Pound):
• Buying: PKR 358.5708
• Selling: PKR 359.1413
• JPY (Japanese Yen):
• Buying: PKR 1.9909
• Selling: PKR 1.9939
• SAR (Saudi Riyal):
• Buying: PKR 75.1251
• Selling: PKR 75.2385
• USD (United States Dollar):
• Buying: PKR 281.7103
• Selling: PKR 282.1501
These rates, regularly updated by the SBP, offer a snapshot of the foreign exchange market, reflecting ongoing market conditions. Indicative values quoted by commercial banks to their clients, these rates are subsequently employed as benchmarks for facilitating commercial transactions involving foreign currencies.
Individuals and businesses participating in international financial activities are strongly urged to stay informed about these rates. Foreign exchange rates are subject to market fluctuations, and stakeholders are advised to verify the latest rates with their respective banks or financial institutions for the most accurate and up-to-date information.
The transparency inherent in the SBP’s customer forex rates represents a significant contribution to the foreign exchange market. This transparency empowers individuals and businesses to make well-informed decisions in their financial dealings. As global economic landscapes evolve, these rates play a pivotal role in fostering economic stability and facilitating international trade, underscoring the critical importance of the SBP’s role in the realm of foreign exchange.
