On Friday, July 22, 2022, the State Bank of Pakistan (SBP) released the foreign exchange rates for customers, disclosing 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 22, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:
• AED (United Arab Emirates Dirham):
• Buying: 62.1796 PKR
• Selling: 62.2879 PKR
• AUD (Australian Dollar):
• Buying: 157.6819 PKR
• Selling: 157.9629 PKR
• CAD (Canadian Dollar):
• Buying: 177.1238 PKR
• Selling: 177.4416 PKR
• CHF (Swiss Franc):
• Buying: 235.6693 PKR
• Selling: 236.0956 PKR
• CNY (Chinese Yuan):
• Buying: 33.7574 PKR
• Selling: 33.8140 PKR
• EUR (Euro):
• Buying: 232.6068 PKR
• Selling: 233.0274 PKR
• GBP (British Pound Sterling):
• Buying: 272.9935 PKR
• Selling: 273.4972 PKR
• JPY (Japanese Yen):
• Buying: 1.6555 PKR
• Selling: 1.6585 PKR
• SAR (Saudi Riyal):
• Buying: 60.7330 PKR
• Selling: 60.8426 PKR
• USD (United States Dollar):
• Buying: 228.2244 PKR
• Selling: 228.6472 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.
