KARACHI, Dec 12, 2023 – The State Bank of Pakistan (SBP) has unveiled the foreign exchange rates for customers on Dec 12, 2023.
These rates, compiled based on the weighted average rates of commercial banks, play a pivotal role in guiding transactions involving foreign currencies, serving as a vital resource for individuals and businesses engaged in international trade.
The foreign exchange rates provided by the SBP are crucial indicators that influence the dynamics of cross-border transactions. These rates are not only valuable for currency conversion but also serve as benchmarks for various commercial transactions conducted by businesses with international partners.
As of Dec 12, 2023, the buying and selling rates for various foreign currencies in Pakistani Rupees (PKR) are as follows:
AED (United Arab Emirates Dirham):
• Buying: PKR 77.2776
• Selling: PKR 77.3954
AUD (Australian Dollar):
• Buying: PKR 186.9096
• Selling: PKR 187.2000
CAD (Canadian Dollar):
• Buying: PKR 209.2263
• Selling: PKR 209.5522
CHF (Swiss Franc):
• Buying: PKR 323.4487
• Selling: PKR 323.9621
CNY (Chinese Yuan):
• Buying: PKR 39.5435
• Selling: PKR 39.5972
EUR (Euro):
• Buying: PKR 305.5385
• Selling: PKR 306.0196
GBP (British Pound):
• Buying: PKR 356.6627
• Selling: PKR 357.2099
JPY (Japanese Yen):
• Buying: PKR 1.9498
• Selling: PKR 1.9528
SAR (Saudi Riyal):
• Buying: PKR 75.6104
• Selling: PKR 75.7242
USD (United States Dollar):
• Buying: PKR 283.5725
• Selling: PKR 284.0122
These rates, updated regularly by the SBP, provide a snapshot of the foreign exchange market and are reflective of the ongoing market conditions. The rates are indicative values quoted by various commercial banks to their clients. Commercial banks, in turn, utilize these rates as benchmarks for facilitating commercial transactions involving foreign currencies.
It is crucial for individuals and businesses engaged in international financial activities to stay informed about these rates. Foreign exchange rates are subject to market fluctuations, and stakeholders are encouraged to verify the latest rates with their respective banks or financial institutions for the most accurate and up-to-date information.
The transparency provided by the SBP’s customer forex rates is a significant contribution to the foreign exchange market, empowering individuals and businesses to make well-informed decisions for their financial dealings. As global economic landscapes evolve, these rates play a pivotal role in fostering economic stability and facilitating international trade.
