On Friday, July 29, 2022, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, providing valuable information on 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 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 29, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:
• AED (United Arab Emirates Dirham):
• Buying: 65.2032 PKR
• Selling: 65.3274 PKR
• AUD (Australian Dollar):
• Buying: 167.9928 PKR
• Selling: 168.2996 PKR
• CAD (Canadian Dollar):
• Buying: 187.0977 PKR
• Selling: 187.4422 PKR
• CHF (Swiss Franc):
• Buying: 251.7661 PKR
• Selling: 252.2247 PKR
• CNY (Chinese Yuan):
• Buying: 35.5263 PKR
• Selling: 35.5936 PKR
• EUR (Euro):
• Buying: 244.9538 PKR
• Selling: 245.4370 PKR
• GBP (British Pound Sterling):
• Buying: 292.2985 PKR
• Selling: 292.8671 PKR
• JPY (Japanese Yen):
• Buying: 1.8028 PKR
• Selling: 1.8064 PKR
• SAR (Saudi Riyal):
• Buying: 63.7502 PKR
• Selling: 63.8731 PKR
• USD (United States Dollar):
• Buying: 239.4655 PKR
• Selling: 239.9655 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.
It is crucial for stakeholders participating in foreign transactions 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 reflects 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.
