On Friday, August 12, 2022, the State Bank of Pakistan (SBP) unveiled the foreign exchange rates for customers, providing insight into the buying and selling prices of various currencies against the Pakistani Rupee (PKR).
These rates, based on the weighted average rates of commercial banks, are crucial for individuals and businesses engaging in international transactions.
The SBP emphasized that the data, compiled and disseminated, is intended 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 12, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:
• AED (United Arab Emirates Dirham):
• Buying: 58.6270 PKR
• Selling: 58.7380 PKR
• AUD (Australian Dollar):
• Buying: 153.1824 PKR
• Selling: 153.4711 PKR
• CAD (Canadian Dollar):
• Buying: 168.8055 PKR
• Selling: 169.1256 PKR
• CHF (Swiss Franc):
• Buying: 228.4939 PKR
• Selling: 228.9262 PKR
• CNY (Chinese Yuan):
• Buying: 31.9631 PKR
• Selling: 32.0196 PKR
• EUR (Euro):
• Buying: 222.0380 PKR
• Selling: 222.4633 PKR
• GBP (British Pound Sterling):
• Buying: 262.4481 PKR
• Selling: 262.9491 PKR
• JPY (Japanese Yen):
• Buying: 1.6147 PKR
• Selling: 1.6178 PKR
• SAR (Saudi Riyal):
• Buying: 57.2972 PKR
• Selling: 57.4041 PKR
• USD (United States Dollar):
• Buying: 215.1881 PKR
• Selling: 215.6109 PKR
Commercial banks play a crucial role in providing indicative exchange rates for facilitating commercial transactions. These rates serve as a guide for individuals and businesses involved in international trade, travel, or financial dealings with foreign entities.
It is essential to note that exchange rates can fluctuate, and individuals are advised to check with their respective banks for the most accurate and up-to-date rates before engaging in any foreign currency transactions.
The release of these exchange rates aligns with the SBP’s commitment to transparency, providing timely and relevant information to the public. This initiative aims to foster a more informed and efficient foreign exchange market in Pakistan, contributing to the overall economic stability of the country.
