On Monday, August 01, 2022, the State Bank of Pakistan (SBP) released the foreign exchange rates for customers, providing essential information on the buying and selling prices of various currencies against the Pakistani Rupee (PKR).
These rates, based on the weighted average rates of commercial banks, play a crucial role in shaping international trade and financial transactions.
The SBP emphasized that the data is compiled and disseminated for informational purposes only. These exchange rates are estimates provided by various commercial banks to their clients, offering an indicative reference for commercial transactions involving foreign currencies.
As of August 01, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:
• AED (United Arab Emirates Dirham):
• Buying: 65.1710 PKR
• Selling: 65.2802 PKR
• AUD (Australian Dollar):
• Buying: 167.2115 PKR
• Selling: 167.4954 PKR
• CAD (Canadian Dollar):
• Buying: 186.8411 PKR
• Selling: 187.1628 PKR
• CHF (Swiss Franc):
• Buying: 251.5373 PKR
• Selling: 251.9722 PKR
• CNY (Chinese Yuan):
• Buying: 35.4305 PKR
• Selling: 35.4869 PKR
• EUR (Euro):
• Buying: 244.5407 PKR
• Selling: 244.9764 PKR
• GBP (British Pound Sterling):
• Buying: 291.4108 PKR
• Selling: 291.9111 PKR
• JPY (Japanese Yen):
• Buying: 1.8048 PKR
• Selling: 1.8079 PKR
• SAR (Saudi Riyal):
• Buying: 63.7079 PKR
• Selling: 63.8158 PKR
• USD (United States Dollar):
• Buying: 239.2040 PKR
• Selling: 239.6268 PKR
Commercial banks play a pivotal role in facilitating international transactions by providing indicative exchange rates for commercial dealings. These rates serve as benchmarks for individuals and businesses involved in cross-border trade, travel, and financial transactions with foreign entities.
It is crucial for stakeholders participating in foreign transactions to stay informed about currency fluctuations. Individuals and businesses are advised to verify the latest and most accurate exchange rates with their respective banks before undertaking any financial activities involving foreign currencies.
The SBP’s regular disclosure of exchange rates reflects its commitment to transparency, contributing to a more informed and stable foreign exchange market in Pakistan. This initiative aligns with broader efforts to support the country’s economic stability and growth.
