KARACHI: The State Bank of Pakistan (SBP) released the foreign exchange rates for customers on May 30, 2022.
These rates, based on the weighted average rates of commercial banks, play a crucial role in guiding businesses and individuals involved in international transactions.
The SBP clarified that the data is compiled and disseminated for informational purposes only. These exchange rates are estimates quoted by various commercial banks to their clients, providing an overview of the market conditions. Banks, in turn, offer indicative exchange rates for commercial transactions with their customers.
The buying and selling rates of various foreign currencies in Pakistan Rupee (PKR) are as follows:
• AED (United Arab Emirates Dirham):
• Buying: PKR 54.1990
• Selling: PKR 54.3100
• AUD (Australian Dollar):
• Buying: PKR 142.9332
• Selling: PKR 143.2240
• CAD (Canadian Dollar):
• Buying: PKR 156.6796
• Selling: PKR 156.9927
• CHF (Swiss Franc):
• Buying: PKR 208.0136
• Selling: PKR 208.4419
• CNY (Chinese Yuan):
• Buying: PKR 29.9220
• Selling: PKR 29.9809
• EUR (Euro):
• Buying: PKR 214.0609
• Selling: PKR 214.5065
• GBP (British Pound):
• Buying: PKR 251.4976
• Selling: PKR 252.0386
• JPY (Japanese Yen):
• Buying: PKR 1.5656
• Selling: PKR 1.5688
• SAR (Saudi Riyal):
• Buying: PKR 53.0438
• Selling: PKR 53.1511
• USD (United States Dollar):
• Buying: PKR 198.9391
• Selling: PKR 199.3619
The SBP’s regular issuance of forex rates enhances transparency in the foreign exchange market, allowing businesses and individuals to make informed decisions. These rates are pivotal for importers, exporters, and individuals engaged in cross-border transactions, influencing the cost of goods and services in the international market.
Foreign exchange rates are subject to fluctuations influenced by global economic conditions, geopolitical events, and market demand. As such, individuals and businesses are advised to stay updated with the latest rates and consult with their respective banks for the most accurate information.
The forex rates provided by the SBP serve as a benchmark for financial transactions and contribute to the stability of the currency market by providing a reliable reference point for market participants.
