KARACHI, May 27, 2022: The State Bank of Pakistan (SBP) provided customers with the foreign exchange rates on May 27, 2022. These rates, derived from the weighted average rates of commercial banks, are a vital reference point for businesses and individuals engaged in international transactions.
The SBP emphasized that the data is compiled and disseminated solely for informational purposes. These exchange rates represent estimates quoted by various commercial banks to their clients, offering insights into prevailing market conditions. Banks, in turn, furnish indicative exchange rates for commercial transactions with their customers.
The buying and selling rates for various foreign currencies in Pakistan Rupee (PKR) on May 27, 2027 are outlined below:
• AED (United Arab Emirates Dirham):
• Buying: PKR 54.4563
• Selling: PKR 54.5683
• AUD (Australian Dollar):
• Buying: PKR 142.5842
• Selling: PKR 142.8618
• CAD (Canadian Dollar):
• Buying: PKR 156.7291
• Selling: PKR 157.0340
• CHF (Swiss Franc):
• Buying: PKR 208.5829
• Selling: PKR 209.0036
• CNY (Chinese Yuan):
• Buying: PKR 29.6790
• Selling: PKR 29.7391
• EUR (Euro):
• Buying: PKR 214.9206
• Selling: PKR 215.3773
• GBP (British Pound):
• Buying: PKR 252.6167
• Selling: PKR 253.1346
• JPY (Japanese Yen):
• Buying: PKR 1.5756
• Selling: PKR 1.5788
• SAR (Saudi Riyal):
• Buying: PKR 53.2954
• Selling: PKR 53.4032
• USD (United States Dollar):
• Buying: PKR 199.8823
• Selling: PKR 200.3051
The SBP’s regular dissemination of forex rates is instrumental in promoting transparency within the foreign exchange market. These rates are crucial for importers, exporters, and individuals involved in cross-border transactions, serving as a key factor influencing the cost of goods and services in the international market.
It’s important to note that foreign exchange rates are susceptible to fluctuations influenced by global economic dynamics, geopolitical events, and market demand. Individuals and businesses are advised to stay abreast of the latest rates and consult with their respective banks for the most accurate and up-to-date information.
The forex rates provided by the SBP on May 27, 2022 serve as a fundamental benchmark for financial transactions, contributing to the stability of the currency market by offering a reliable reference point for market participants.