On Tuesday, July 26, 2022, the State Bank of Pakistan (SBP) released the foreign exchange rates for customers, detailing the buying and selling prices of various currencies against the Pakistani Rupee (PKR).
These rates, calculated based on the weighted average rates of commercial banks, are vital 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 26, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:
• AED (United Arab Emirates Dirham):
• Buying: 63.3610 PKR
• Selling: 63.4708 PKR
• AUD (Australian Dollar):
• Buying: 161.8919 PKR
• Selling: 162.1760 PKR
• CAD (Canadian Dollar):
• Buying: 181.3025 PKR
• Selling: 181.6127 PKR
• CHF (Swiss Franc):
• Buying: 241.1147 PKR
• Selling: 241.5274 PKR
• CNY (Chinese Yuan):
• Buying: 34.4556 PKR
• Selling: 34.5119 PKR
• EUR (Euro):
• Buying: 237.8073 PKR
• Selling: 238.2289 PKR
• GBP (British Pound Sterling):
• Buying: 280.4865 PKR
• Selling: 280.9953 PKR
• JPY (Japanese Yen):
• Buying: 1.7016 PKR
• Selling: 1.7047 PKR
• SAR (Saudi Riyal):
• Buying: 61.9186 PKR
• Selling: 62.0260 PKR
• USD (United States Dollar):
• Buying: 232.5677 PKR
• Selling: 232.9905 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.
