SBP’s customer forex rates – August 11, 2022

SBP’s customer forex rates – August 11, 2022

On Thursday, August 11, 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, based on the weighted average rates of commercial banks, play a pivotal role in facilitating international transactions and are indicative of the current economic landscape.

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, serve as a reference for individuals and businesses engaged in international trade, travel, or financial transactions involving foreign currencies.

As of August 11, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:

• AED (United Arab Emirates Dirham):

• Buying: 59.7646 PKR

• Selling: 59.8757 PKR

• AUD (Australian Dollar):

• Buying: 155.3500 PKR

• Selling: 155.6462 PKR

• CAD (Canadian Dollar):

• Buying: 171.7027 PKR

• Selling: 172.0302 PKR

• CHF (Swiss Franc):

• Buying: 232.6270 PKR

• Selling: 233.0632 PKR

• CNY (Chinese Yuan):

• Buying: 32.5733 PKR

• Selling: 32.6304 PKR

• EUR (Euro):

• Buying: 225.8352 PKR

• Selling: 226.2672 PKR

• GBP (British Pound Sterling):

• Buying: 267.6872 PKR

• Selling: 268.2052 PKR

• JPY (Japanese Yen):

• Buying: 1.6495 PKR

• Selling: 1.6525 PKR

• SAR (Saudi Riyal):

• Buying: 58.3510 PKR

• Selling: 58.4594 PKR

• USD (United States Dollar):

• Buying: 219.3618 PKR

• Selling: 219.7846 PKR

Commercial banks, by providing indicative exchange rates for commercial transactions, enable smoother international trade and economic activities. These rates are crucial for businesses and individuals planning cross-border ventures, as they serve as a benchmark for assessing the value of foreign currencies.

It is essential for those involved in foreign transactions to stay informed about currency fluctuations. Individuals and businesses 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 aligns with its commitment to transparency and aims to contribute to a more informed and stable foreign exchange market in Pakistan.