Karachi, September 8, 2023 – The State Bank of Pakistan (SBP) has released the official foreign exchange rates for Friday, providing updated data on the buying and selling rates of major foreign currencies against the Pakistani Rupee (PKR).
These rates, compiled on the basis of the weighted average of commercial banks, serve as a daily benchmark for traders, businesses, and currency dealers across the country.
According to the SBP’s latest notification, the buying and selling rates for key foreign currencies on September 8 are as follows:
| Currency | Buying (PKR) | Selling (PKR) |
| AED – UAE Dirham | 82.4372 | 82.5437 |
| AUD – Australian Dollar | 193.5255 | 193.8056 |
| CAD – Canadian Dollar | 221.4319 | 221.7286 |
| CHF – Swiss Franc | 339.8770 | 340.3408 |
| CNY – Chinese Yuan | 41.2016 | 41.2517 |
| EUR – Euro | 324.3290 | 324.7736 |
| GBP – British Pound | 377.9058 | 378.4267 |
| JPY – Japanese Yen | 2.0556 | 2.0584 |
| SAR – Saudi Riyal | 80.6757 | 80.7826 |
| USD – US Dollar | 302.5830 | 302.9991 |
The SBP regularly issues these exchange rates to maintain transparency in the foreign exchange market and ensure that businesses and investors have access to accurate and timely information. The foreign exchange rates fluctuate based on market demand and supply, geopolitical developments, and international financial movements.
Analysts view this SBP update as a crucial tool for importers, exporters, and financial institutions in managing currency risk. With the volatility in global markets, particularly in relation to the US Dollar and Euro, accurate foreign exchange rates are more important than ever for effective business planning and economic forecasting.
The SBP continues to monitor the foreign exchange market closely to ensure the stability of the rupee and maintain investor confidence. These daily rates reflect the central bank’s commitment to keeping the market informed and aligned with global currency movements.