On Wednesday, July 27, 2022, the State Bank of Pakistan (SBP) released the foreign exchange rates for customers, unveiling 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 pivotal 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 27, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:
• AED (United Arab Emirates Dirham):
• Buying: 64.1900 PKR
• Selling: 64.2978 PKR
• AUD (Australian Dollar):
• Buying: 163.3953 PKR
• Selling: 163.6773 PKR
• CAD (Canadian Dollar):
• Buying: 183.2479 PKR
• Selling: 183.5578 PKR
• CHF (Swiss Franc):
• Buying: 244.9777 PKR
• Selling: 245.4070 PKR
• CNY (Chinese Yuan):
• Buying: 34.8631 PKR
• Selling: 34.9202 PKR
• EUR (Euro):
• Buying: 238.9680 PKR
• Selling: 239.3998 PKR
• GBP (British Pound Sterling):
• Buying: 284.0090 PKR
• Selling: 284.5178 PKR
• JPY (Japanese Yen):
• Buying: 1.7208 PKR
• Selling: 1.7238 PKR
• SAR (Saudi Riyal):
• Buying: 62.7209 PKR
• Selling: 62.8288 PKR
• USD (United States Dollar):
• Buying: 235.6166 PKR
• Selling: 236.0394 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.
