KARACHI: On Tuesday, the State Bank of Pakistan (SBP) released the foreign exchange rates for January 17, 2023.
The exchange rates, calculated on the basis of weighted average rates from commercial banks, provide a snapshot of the current value of the Pakistani Rupee (PKR) against various foreign currencies.
Here’s a detailed breakdown of the buying and selling rates for key foreign currencies in PKR on January 17, 2023:
• UAE Dirham (AED):
• Buying: 62.2672 PKR
• Selling: 62.3746 PKR
• Australian Dollar (AUD):
• Buying: 159.1396 PKR
• Selling: 159.4310 PKR
• Canadian Dollar (CAD):
• Buying: 170.4650 PKR
• Selling: 170.7584 PKR
• Swiss Franc (CHF):
• Buying: 247.1794 PKR
• Selling: 247.6237 PKR
• Chinese Yuan (CNY):
• Buying: 33.7784 PKR
• Selling: 33.8316 PKR
• Euro (EUR):
• Buying: 247.4560 PKR
• Selling: 247.9046 PKR
• UK Pound (GBP):
• Buying: 278.7908 PKR
• Selling: 279.3055 PKR
• Japanese Yen (JPY):
• Buying: 1.7748 PKR
• Selling: 1.7780 PKR
• Saudi Riyal (SAR):
• Buying: 60.8596 PKR
• Selling: 60.9627 PKR
• US Dollar (USD):
• Buying: 228.5476 PKR
• Selling: 228.9637 PKR
These exchange rates are instrumental for businesses and individuals involved in international trade, serving as 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 pivotal metric for economic activities, stands at 228.5476 PKR for buying and 228.9637 PKR for selling. This exchange rate’s stability and trend are closely monitored by various stakeholders, including businesses, investors, and policymakers, as it holds significant implications for trade balances, inflation, and overall economic stability.
The Euro (EUR) is trading at 247.4560 PKR for buying and 247.9046 PKR for selling, while the UK Pound (GBP) is valued at 278.7908 PKR (buying) and 279.3055 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 62.2672 PKR (buying) and 62.3746 PKR (selling), while the SAR is at 60.8596 PKR (buying) and 60.9627 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 routine disclosure 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 serve as a critical reference point for financial decisions and strategic planning.
