KARACHI: On Friday, the State Bank of Pakistan (SBP) released the foreign exchange rates for January 13, 2023.
These rates, established on the basis of weighted average rates from commercial banks, provide valuable insights into the current valuation of the Pakistani Rupee (PKR) against various foreign currencies.
Here’s a detailed overview of the buying and selling rates for key foreign currencies in PKR on January 13, 2023:
• UAE Dirham (AED):
• Buying: 62.1313 PKR
• Selling: 62.2413 PKR
• Australian Dollar (AUD):
• Buying: 158.8368 PKR
• Selling: 159.1172 PKR
• Canadian Dollar (CAD):
• Buying: 170.4638 PKR
• Selling: 170.7569 PKR
• Swiss Franc (CHF):
• Buying: 245.4066 PKR
• Selling: 245.8447 PKR
• Chinese Yuan (CNY):
• Buying: 33.9097 PKR
• Selling: 33.9639 PKR
• Euro (EUR):
• Buying: 247.3622 PKR
• Selling: 247.8011 PKR
• UK Pound (GBP):
• Buying: 278.2199 PKR
• Selling: 278.7251 PKR
• Japanese Yen (JPY):
• Buying: 1.7705 PKR
• Selling: 1.7737 PKR
• Saudi Riyal (SAR):
• Buying: 60.7050 PKR
• Selling: 60.8154 PKR
• US Dollar (USD):
• Buying: 228.0457 PKR
• Selling: 228.4618 PKR
These exchange rates serve as a critical reference for businesses and individuals engaged in international trade, allowing them to understand the value of the PKR against major global currencies. The rates are determined from the weighted average rates of commercial banks, offering a reflection of the prevailing market conditions.
The USD to PKR exchange rate, a pivotal metric for economic activities, stands at 228.0457 PKR for buying and 228.4618 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 247.3622 PKR for buying and 247.8011 PKR for selling, while the UK Pound (GBP) is valued at 278.2199 PKR (buying) and 278.7251 PKR (selling). These rates provide valuable insights into the relative strength or weakness of the Pakistani Rupee against major European currencies.
For businesses involved 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 62.1313 PKR (buying) and 62.2413 PKR (selling), while the SAR is at 60.7050 PKR (buying) and 60.8154 PKR (selling).
It is crucial for businesses and individuals participating in international transactions to stay informed about these exchange rates, as they directly impact 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 disclosure of these exchange rates enhances transparency and provides a valuable resource for those navigating the complexities of the global economy. As economic conditions evolve, these rates will continue to be a critical reference point for financial decisions and strategic planning.
