SBP’s customer forex rates – July 19, 2022

SBP’s customer forex rates – July 19, 2022

On Tuesday, July 19, 2022, the State Bank of Pakistan (SBP) released the foreign exchange rates for customers, outlining 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 crucial for individuals and businesses involved in 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, offering an indicative reference for commercial transactions involving foreign currencies.

As of July 19, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:

• AED (United Arab Emirates Dirham):

• Buying: 60.5162 PKR

• Selling: 60.6257 PKR

• AUD (Australian Dollar):

• Buying: 152.8955 PKR

• Selling: 153.1752 PKR

• CAD (Canadian Dollar):

• Buying: 171.4665 PKR

• Selling: 171.7758 PKR

• CHF (Swiss Franc):

• Buying: 228.6735 PKR

• Selling: 229.0962 PKR

• CNY (Chinese Yuan):

• Buying: 32.9547 PKR

• Selling: 33.0145 PKR

• EUR (Euro):

• Buying: 227.0762 PKR

• Selling: 227.5014 PKR

• GBP (British Pound Sterling):

• Buying: 266.5994 PKR

• Selling: 267.1042 PKR

• JPY (Japanese Yen):

• Buying: 1.6119 PKR

• Selling: 1.6150 PKR

• SAR (Saudi Riyal):

• Buying: 59.1634 PKR

• Selling: 59.2730 PKR

• USD (United States Dollar):

• Buying: 222.1219 PKR

• Selling: 222.5447 PKR

Commercial banks play a pivotal role in 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.

Stakeholders participating in foreign transactions are encouraged 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 is part of its commitment to transparency, contributing to 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.