On Friday, August 05, 2022, the State Bank of Pakistan (SBP) revealed the foreign exchange rates for customers, providing crucial information about 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, are pivotal for individuals and businesses involved in international trade and financial transactions.
The SBP clarified that the data is compiled and disseminated for informational purposes only. These exchange rates are estimates provided by various commercial banks to their clients and serve as an indicative reference for commercial transactions involving foreign currencies.
As of August 05, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:
• AED (United Arab Emirates Dirham):
• Buying: 61.0701 PKR
• Selling: 61.1818 PKR
• AUD (Australian Dollar):
• Buying: 156.1636 PKR
• Selling: 156.4436 PKR
• CAD (Canadian Dollar):
• Buying: 174.1888 PKR
• Selling: 174.4998 PKR
• CHF (Swiss Franc):
• Buying: 234.3066 PKR
• Selling: 234.7471 PKR
• CNY (Chinese Yuan):
• Buying: 33.2456 PKR
• Selling: 33.3028 PKR
• EUR (Euro):
• Buying: 229.3577 PKR
• Selling: 229.7838 PKR
• GBP (British Pound Sterling):
• Buying: 272.2280 PKR
• Selling: 272.7258 PKR
• JPY (Japanese Yen):
• Buying: 1.6814 PKR
• Selling: 1.6845 PKR
• SAR (Saudi Riyal):
• Buying: 59.6611 PKR
• Selling: 59.7731 PKR
• USD (United States Dollar):
• Buying: 224.1586 PKR
• Selling: 224.5814 PKR
Commercial banks play a significant role in facilitating international transactions by providing indicative exchange rates for commercial transactions. These rates serve as a benchmark for individuals and businesses involved in cross-border trade, travel, and financial dealings with foreign entities.
It is crucial for individuals and businesses engaged in foreign transactions to stay informed about currency fluctuations. Stakeholders are advised to check with their respective banks for the latest and most accurate exchange rates before engaging in any financial activities involving foreign currencies.
The SBP’s regular disclosure of exchange rates is part of its commitment to transparency, contributing to a more informed and stable foreign exchange market in Pakistan. This initiative aligns with the broader goal of supporting the country’s economic stability and growth.
