On Wednesday, August 10, 2022, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, providing insight 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, play a crucial role in facilitating international trade and economic activities.
The SBP clarified that the data is compiled and disseminated for informational purposes only. These exchange rates, estimates provided by various commercial banks to their clients, are indicative of the rates available for commercial transactions involving foreign currencies.
As of August 10, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:
• AED (United Arab Emirates Dirham):
• Buying: 60.3062 PKR
• Selling: 60.4188 PKR
• AUD (Australian Dollar):
• Buying: 154.0078 PKR
• Selling: 154.2797 PKR
• CAD (Canadian Dollar):
• Buying: 171.7977 PKR
• Selling: 172.1018 PKR
• CHF (Swiss Franc):
• Buying: 232.0264 PKR
• Selling: 232.4604 PKR
• CNY (Chinese Yuan):
• Buying: 32.7875 PKR
• Selling: 32.8438 PKR
• EUR (Euro):
• Buying: 226.1648 PKR
• Selling: 226.5926 PKR
• GBP (British Pound Sterling):
• Buying: 267.6122 PKR
• Selling: 268.1091 PKR
• JPY (Japanese Yen):
• Buying: 1.6436 PKR
• Selling: 1.6466 PKR
• SAR (Saudi Riyal):
• Buying: 58.8842 PKR
• Selling: 58.9977 PKR
• USD (United States Dollar):
• Buying: 221.3496 PKR
• Selling: 221.7724 PKR
Commercial banks play a significant role by providing indicative exchange rates, facilitating smooth commercial transactions and international business dealings. These rates serve as a reference point for businesses and individuals involved in cross-border trade, travel, and financial transactions.
It is crucial for stakeholders engaging 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 aligns with its commitment to transparency, aiming to contribute to a more informed and stable foreign exchange market in Pakistan. This initiative supports the overall economic stability and growth of the country.
