On Monday, July 25, 2022, the State Bank of Pakistan (SBP) issued 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 essential for individuals and businesses engaged 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 25, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:
• AED (United Arab Emirates Dirham):
• Buying: 62.5883 PKR
• Selling: 62.6977 PKR
• AUD (Australian Dollar):
• Buying: 158.8003 PKR
• Selling: 159.0813 PKR
• CAD (Canadian Dollar):
• Buying: 177.6254 PKR
• Selling: 177.9406 PKR
• CHF (Swiss Franc):
• Buying: 238.2439 PKR
• Selling: 238.6718 PKR
• CNY (Chinese Yuan):
• Buying: 34.0377 PKR
• Selling: 34.0947 PKR
• EUR (Euro):
• Buying: 234.3699 PKR
• Selling: 234.7907 PKR
• GBP (British Pound Sterling):
• Buying: 275.1860 PKR
• Selling: 275.6908 PKR
• JPY (Japanese Yen):
• Buying: 1.6850 PKR
• Selling: 1.6880 PKR
• SAR (Saudi Riyal):
• Buying: 61.1405 PKR
• Selling: 61.2478 PKR
• USD (United States Dollar):
• Buying: 229.7272 PKR
• Selling: 230.1500 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.
