On Thursday, July 21, 2022, the State Bank of Pakistan (SBP) released the foreign exchange rates for customers, revealing 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 vital for individuals and businesses involved in international trade and financial transactions.
The SBP reiterated that the data is compiled and disseminated for informational purposes only. These exchange rates are estimates provided by various commercial banks to their clients, serving as an indicative reference for commercial transactions involving foreign currencies.
As of July 21, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:
• AED (United Arab Emirates Dirham):
• Buying: 61.8333 PKR
• Selling: 61.9437 PKR
• AUD (Australian Dollar):
• Buying: 156.6062 PKR
• Selling: 156.8809 PKR
• CAD (Canadian Dollar):
• Buying: 176.3496 PKR
• Selling: 176.6588 PKR
• CHF (Swiss Franc):
• Buying: 233.7438 PKR
• Selling: 234.1660 PKR
• CNY (Chinese Yuan):
• Buying: 33.5877 PKR
• Selling: 33.6437 PKR
• EUR (Euro):
• Buying: 231.8900 PKR
• Selling: 232.3138 PKR
• GBP (British Pound Sterling):
• Buying: 272.0365 PKR
• Selling: 272.5300 PKR
• JPY (Japanese Yen):
• Buying: 1.6408 PKR
• Selling: 1.6438 PKR
• SAR (Saudi Riyal):
• Buying: 60.4055 PKR
• Selling: 60.5150 PKR
• USD (United States Dollar):
• Buying: 226.9588 PKR
• Selling: 227.3816 PKR
Commercial banks play a crucial 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.
