Karachi, October 6, 2023: The State Bank of Pakistan (SBP) on Friday issued foreign currency rates for October 6, 2023.
The exchange rate is on the basis of weighted average rates of commercial banks.Following are the buying and selling of foreign currencies in Pakistan Rupee (PKR):
| CURRENCY | BUYING | SELLING |
| AED– UAE Dirham | 76.9638 | 77.0676 |
| AUD– Australian Dollar | 179.3697 | 179.5942 |
| CAD– Canadian Dollar | 205.8753 | 206.1722 |
| CHF– Swiss Franc | 309.0713 | 309.5217 |
| CNY– Chinese Yuan | 38.7065 | 38.7552 |
| EUR– Euro | 297.6851 | 298.1283 |
| GBP– British Pound | 343.8253 | 344.3328 |
| JPY– Japanese Yen | 1.8971 | 1.8998 |
| SAR– Saudi Riyal | 75.3225 | 75.4282 |
| USD– US Dollar | 282.4903 | 282.9064 |
Market analysts noted that the SBP’s official exchange rate mechanism provides a key benchmark for interbank currency trading and helps ensure greater transparency in the foreign exchange market. They added that exchange rate movements are largely influenced by demand and supply dynamics, import payments, export earnings, and remittance inflows. Experts further highlighted that global monetary policy trends and fluctuations in international commodity prices also play a significant role in shaping currency valuations. Businesses and importers closely monitor SBP rates for planning payments and managing foreign currency exposure in an increasingly volatile economic environment.
Disclaimer:
The foreign exchange rates provided in this report are issued by the State Bank of Pakistan (SBP) based on weighted average rates of commercial banks. These rates are for informational purposes only and may not reflect real-time market fluctuations. Actual buying and selling rates may vary depending on commercial banks, exchange companies, and market conditions. The publisher assumes no responsibility for any financial loss or decision made based on this information. Readers are advised to verify rates from official sources or financial institutions before conducting any transactions.
