Karachi, October 9, 2023: The State Bank of Pakistan (SBP) unveiled the foreign currency rates for October 9, 2023, providing a snapshot of the exchange rates against the Pakistani Rupee (PKR) based on the weighted average rates of commercial banks.
In the latest update, the buying and selling rates for various foreign currencies in PKR are as follows:
• AED – UAE Dirham
• Buying: 76.6817 PKR
• Selling: 76.7892 PKR
• AUD – Australian Dollar
• Buying: 178.7918 PKR
• Selling: 179.0494 PKR
• CAD – Canadian Dollar
• Buying: 206.0572 PKR
• Selling: 206.3526 PKR
• CHF – Swiss Franc
• Buying: 308.9879 PKR
• Selling: 309.4381 PKR
• CNY – Chinese Yuan
• Buying: 38.6183 PKR
• Selling: 38.6687 PKR
• EUR – Euro
• Buying: 296.7840 PKR
• Selling: 297.2109 PKR
• GBP – British Pound
• Buying: 343.1624 PKR
• Selling: 343.6656 PKR
• JPY – Japanese Yen
• Buying: 1.8869 PKR
• Selling: 1.8896 PKR
• SAR – Saudi Riyal
• Buying: 75.0471 PKR
• Selling: 75.1508 PKR
• USD – US Dollar
• Buying: 281.4606 PKR
• Selling: 281.8767 PKR
These rates play a crucial role in international trade, business transactions, and individual remittances. The exchange rates provided by the State Bank of Pakistan are indicative of the value of the Pakistani Rupee against major global currencies.
The US Dollar, being one of the most traded currencies globally, has buying and selling rates of 281.4606 PKR and 281.8767 PKR, respectively. This information is significant for businesses engaged in international trade and individuals involved in currency exchange or overseas transactions.
The Euro, another widely used currency, is quoted at 296.7840 PKR for buying and 297.2109 PKR for selling. The rates for the Euro are closely watched by investors and businesses involved in European markets.
The British Pound, with buying and selling rates of 343.1624 PKR and 343.6656 PKR, showcases the exchange value against the Pakistani Rupee. These rates are vital for those dealing with the United Kingdom in terms of trade, investment, and financial transactions.
For those dealing with the Middle East, the Saudi Riyal is valued at 75.0471 PKR for buying and 75.1508 PKR for selling. This information is especially pertinent for businesses and individuals engaged in trade and commerce with Saudi Arabia.
The release of these rates by the State Bank of Pakistan is part of its regular updates to keep the public and businesses informed about the current exchange scenario. The foreign currency rates are subject to market fluctuations and can impact various sectors, including import and export businesses, tourism, and foreign investment.
It is essential for businesses and individuals alike to stay abreast of these currency rates as they directly influence the cost of goods and services, as well as the profitability of international ventures. The State Bank’s commitment to providing timely and accurate information contributes to a transparent and efficient foreign exchange market in Pakistan.
