On Wednesday, August 03, 2022, the State Bank of Pakistan (SBP) released the foreign exchange rates for customers, shedding light on the buying and selling prices of various currencies against the Pakistani Rupee (PKR).
These rates, calculated based on the weighted average rates of commercial banks, are crucial 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 03, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:
• AED (United Arab Emirates Dirham):
• Buying: 62.2461 PKR
• Selling: 62.3556 PKR
• AUD (Australian Dollar):
• Buying: 158.3091 PKR
• Selling: 158.5907 PKR
• CAD (Canadian Dollar):
• Buying: 177.6596 PKR
• Selling: 177.9763 PKR
• CHF (Swiss Franc):
• Buying: 238.4731 PKR
• Selling: 238.8890 PKR
• CNY (Chinese Yuan):
• Buying: 33.8440 PKR
• Selling: 33.9015 PKR
• EUR (Euro):
• Buying: 232.7559 PKR
• Selling: 233.1896 PKR
• GBP (British Pound Sterling):
• Buying: 278.2476 PKR
• Selling: 278.7464 PKR
• JPY (Japanese Yen):
• Buying: 1.7160 PKR
• Selling: 1.7190 PKR
• SAR (Saudi Riyal):
• Buying: 60.7939 PKR
• Selling: 60.9005 PKR
• USD (United States Dollar):
• Buying: 228.4675 PKR
• Selling: 228.8903 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 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.
