SBP’s customer forex rates – August 02, 2022

SBP’s customer forex rates – August 02, 2022

On Tuesday, August 02, 2022, the State Bank of Pakistan (SBP) published the foreign exchange rates for customers, offering insights into the buying and selling prices of various currencies against the Pakistani Rupee (PKR).

These rates, established on the weighted average rates of commercial banks, hold significant importance for individuals and businesses engaged in international trade and financial transactions.

The SBP reiterated 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 02, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:

• AED (United Arab Emirates Dirham):

• Buying: 64.9540 PKR

• Selling: 65.0635 PKR

• AUD (Australian Dollar):

• Buying: 165.9670 PKR

• Selling: 166.2473 PKR

• CAD (Canadian Dollar):

• Buying: 185.4467 PKR

• Selling: 185.7650 PKR

• CHF (Swiss Franc):

• Buying: 250.7389 PKR

• Selling: 251.1828 PKR

• CNY (Chinese Yuan):

• Buying: 35.2592 PKR

• Selling: 35.3167 PKR

• EUR (Euro):

• Buying: 244.5354 PKR

• Selling: 244.9581 PKR

• GBP (British Pound Sterling):

• Buying: 291.6276 PKR

• Selling: 292.1420 PKR

• JPY (Japanese Yen):

• Buying: 1.8200 PKR

• Selling: 1.8232 PKR

• SAR (Saudi Riyal):

• Buying: 63.4860 PKR

• Selling: 63.6030 PKR

• USD (United States Dollar):

• Buying: 238.4321 PKR

• Selling: 238.8549 PKR

Commercial banks play a crucial 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 imperative 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.