On Thursday, July 28, 2022, the State Bank of Pakistan (SBP) unveiled the foreign exchange rates for customers, revealing the buying and selling prices of various currencies against the Pakistani Rupee (PKR).
These rates, derived from the weighted average rates of commercial banks, play a vital role in shaping 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 28, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:
• AED (United Arab Emirates Dirham):
• Buying: 65.3891 PKR
• Selling: 65.4982 PKR
• AUD (Australian Dollar):
• Buying: 167.8997 PKR
• Selling: 168.1791 PKR
• CAD (Canadian Dollar):
• Buying: 187.2398 PKR
• Selling: 187.5578 PKR
• CHF (Swiss Franc):
• Buying: 250.2610 PKR
• Selling: 250.6778 PKR
• CNY (Chinese Yuan):
• Buying: 35.6064 PKR
• Selling: 35.6637 PKR
• EUR (Euro):
• Buying: 245.0002 PKR
• Selling: 245.4215 PKR
• GBP (British Pound Sterling):
• Buying: 292.0391 PKR
• Selling: 292.5400 PKR
• JPY (Japanese Yen):
• Buying: 1.7706 PKR
• Selling: 1.7736 PKR
• SAR (Saudi Riyal):
• Buying: 63.9067 PKR
• Selling: 64.0135 PKR
• USD (United States Dollar):
• Buying: 239.9987 PKR
• Selling: 240.4215 PKR
Commercial banks play a significant 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.
