On Thursday, August 04, 2022, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, offering valuable information on the buying and selling prices of various currencies against the Pakistani Rupee (PKR).
These rates, determined based on the weighted average rates of commercial banks, play a vital 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, serving as an indicative reference for commercial transactions involving foreign currencies.
As of August 04, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:
• AED (United Arab Emirates Dirham):
• Buying: 61.4186 PKR
• Selling: 61.5280 PKR
• AUD (Australian Dollar):
• Buying: 156.9565 PKR
• Selling: 157.2401 PKR
• CAD (Canadian Dollar):
• Buying: 175.4724 PKR
• Selling: 175.7892 PKR
• CHF (Swiss Franc):
• Buying: 234.4742 PKR
• Selling: 234.9123 PKR
• CNY (Chinese Yuan):
• Buying: 33.3962 PKR
• Selling: 33.4527 PKR
• EUR (Euro):
• Buying: 229.1587 PKR
• Selling: 229.5908 PKR
• GBP (British Pound Sterling):
• Buying: 273.7601 PKR
• Selling: 274.2710 PKR
• JPY (Japanese Yen):
• Buying: 1.6812 PKR
• Selling: 1.6843 PKR
• SAR (Saudi Riyal):
• Buying: 59.9632 PKR
• Selling: 60.0709 PKR
• USD (United States Dollar):
• Buying: 225.4344 PKR
• Selling: 225.8572 PKR
Commercial banks contribute significantly to 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 essential for those 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 release of exchange rates reflects its commitment to transparency, aiming to foster 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.
