KARACHI: On Wednesday, the State Bank of Pakistan (SBP) issued the foreign exchange rates for January 11, 2023.
These rates, determined on the basis of weighted average rates from commercial banks, provide valuable insights into the current status of the Pakistani Rupee (PKR) against various foreign currencies.
Here is a detailed breakdown of the buying and selling rates for key foreign currencies in PKR on January 11, 2023:
• UAE Dirham (AED):
• Buying: 62.0752 PKR
• Selling: 62.1828 PKR
• Australian Dollar (AUD):
• Buying: 157.4646 PKR
• Selling: 157.7375 PKR
• Canadian Dollar (CAD):
• Buying: 169.7125 PKR
• Selling: 170.0055 PKR
• Swiss Franc (CHF):
• Buying: 247.1898 PKR
• Selling: 247.6306 PKR
• Chinese Yuan (CNY):
• Buying: 33.6507 PKR
• Selling: 33.7044 PKR
• Euro (EUR):
• Buying: 244.8547 PKR
• Selling: 245.2983 PKR
• UK Pound (GBP):
• Buying: 277.1224 PKR
• Selling: 277.6245 PKR
• Japanese Yen (JPY):
• Buying: 1.7216 PKR
• Selling: 1.7246 PKR
• Saudi Riyal (SAR):
• Buying: 60.6794 PKR
• Selling: 60.7851 PKR
• US Dollar (USD):
• Buying: 227.8353 PKR
• Selling: 228.2514 PKR
These exchange rates play a crucial role for businesses and individuals involved in international trade, offering a reference point for understanding the value of the PKR against major global currencies. The rates are derived from the weighted average rates of commercial banks, reflecting the ongoing market dynamics.
The USD to PKR exchange rate, a key metric for economic activities, stands at 227.8353 PKR for buying and 228.2514 PKR for selling. This exchange rate is closely monitored by various stakeholders, including businesses, investors, and policymakers, as it has significant implications for trade balances, inflation, and overall economic stability.
The Euro (EUR) is trading at 244.8547 PKR for buying and 245.2983 PKR for selling, while the UK Pound (GBP) is valued at 277.1224 PKR (buying) and 277.6245 PKR (selling). These rates provide valuable insights into the relative strength or weakness of the Pakistani Rupee against major European currencies.
For businesses engaged in trade with the Middle East, the buying and selling rates for the UAE Dirham (AED) and the Saudi Riyal (SAR) are crucial indicators. The AED is quoted at 62.0752 PKR (buying) and 62.1828 PKR (selling), while the SAR is at 60.6794 PKR (buying) and 60.7851 PKR (selling).
It is imperative for businesses and individuals participating in international transactions to stay informed about these exchange rates, as they directly influence the cost of imports, the value of exports, and overall economic stability. Fluctuations in these rates can also impact investment decisions and financial planning.
The State Bank of Pakistan’s regular release of these exchange rates enhances transparency and provides a valuable resource for those navigating the intricacies of the global economy. As economic conditions evolve, these rates will continue to be a critical reference point for financial decisions and strategic planning.
